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Article: Deal makes United Rentals No. 1 in equipment rental
- Article from:
- Chicago Sun-Times
- Article date:
- June 17, 1998
- Author:
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Copyright informationCopyright 1998 Chicago Sun-Times. (Hide copyright information)
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GREENWICH, Conn. United Rentals Inc. agreed to acquire U.S.
Rentals Inc. for $1.24 billion in stock and assumed debt to form the
largest equipment-rental company in North America.
The move will combine United Rentals, which has used a stream of
acquisitions to become the sixth-largest U.S. rental company, with
larger rival U.S. Rentals, the second-largest. The combined company
will vault ahead of Hertz Corp. in the $20 billion business of
renting equipment such as forklifts, cranes and bulldozers.
United Rentals will pay $32.12 1/2 in stock for each U.S.
Rentals share, based on the stock price Monday, a premium of 6.4
percent to U.S. Rentals' close. In addition, United Rentals will ...
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