On July 29, 2020, Aaron’s Holdings Company, Inc. (NYSE: AAN, $61.36, Market Capitalization: $4.1 billion) a leading omni-channel provider of lease-purchase solutions, announced its intention to separate into two independent, publicly-traded companies: PROG Holdings, Inc (Progressive  +1.6% Leasing and Vive Financial) and The Aaron’s Company, Inc. (Aaron’s Business segment). On November 17, 2020, Aaron’s Holdings Company, Inc. announced additional details of the separation. Post spin-off, Aaron’s Holdings will be renamed as PROG Holdings, Inc., while the spun-off unit that will hold the Aaron’s business segment will be named as The Aaron’s Company, Inc. Both the entities will trade on NYSE under the symbols “PRG” and “AAN”, respectively. Headquartered in Draper, UT, PROG Holdings, Inc will comprise of the company’s current Progressive business segment and Vive Financial. On the other hand, The Aaron’s Company, headquartered in Atlanta, GA, will comprise of ~1,400 company-operated and franchised stores in 47 US states and Canada, the e-commerce platform Aarons.com and Woodhaven Furniture Industries.

I don’t like complicated stories and neither does the street. We’ll pass on this for now.