May 22 Rent-A-Center said on Monday
that activist investor Engaged Capital LLC, which has been
pushing the furniture retailer to sell itself, rejected two
board seats offered by the company.
Engaged Capital has no interest in negotiating with the
company's board to reach an "amiable" resolution, Rent-A-Center
said in a filing.
The activist investor, which owns a 16.9 percent stake in
Rent-A-Center, has waged a proxy fight to gain control of the
company's board by nominating five members in February.
The company responded to Engaged Capital's move by adopting
a so-called "poison pill" plan.
Engaged Capital said last month it had no intention to make
a takeover bid for the company.
Rent-A-Center's shares closed up 1 percent at $11.04 on
Monday on the Nasdaq.
(Reporting by Karina Dsouza in Bengaluru; Editing by Anil