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Article: United Rentals Commences Litigation Against Cerberus Acquisition Vehicles.
- Article from:
- Business Wire
- Article date:
- November 19, 2007
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Asserts Specific Performance Provision Compels Completion of Merger
Says Acquisition Vehicles Acted in Bad Faith in Repudiating Transaction
GREENWICH, Conn. -- United Rentals, Inc. (NYSE: URI) announced today that it has filed a lawsuit against RAM Holdings, Inc. and RAM Acquisition Corp. (collectively, "RAM"), acquisition vehicles formed by Stephen A. Feinberg's Cerberus Capital Management, L.P. to acquire United Rentals. The lawsuit, filed in the Delaware Court of Chancery, seeks to compel the Cerberus acquisition vehicles to complete the agreed-upon transaction.
As previously announced, United Rentals received a letter from RAM, repudiating ...