United Rentals Inc said it will purchase rival RSC Holdings for about $1.9 billion in cash and stock, to consolidate its position in the North American equipment rental industry.United Rentals said it will pay $10.80 in cash and 0.2783 of its share for each RSC share.The $18 per share offer is a 58 percent premium to RSC's closing price of $11.37 on Thursday on the New York Stock Exchange.The cash portion of the transaction will be financed through new debt issuance and current loan facilities, United Rentals said in a statement.
RSC Holdings Inc. (RSC Holdings) is an equipment rental provider in North America. Shares of RRR remained unchanged at $11.37. In the past year, the shares have traded as low as $6.26 and as high as $15.04. On average, 1284110 shares of RRR exchange hands on a given day and today's volume is recorded at 0.
United Rentals, Inc. (United Rentals) is a holding company. Shares of URI remained unchanged at $26.04. In the past year, the shares have traded as low as $12.81 and as high as $34.78. On average, 2395210 shares of URI exchange hands on a given day and today's volume is recorded at 0.
Source
