United Rentals gets US antitrust OK for RSC deal

US antitrust waiting period for United Rentals' acquisition of RSC expires

Associated Press

GREENWICH, Conn. (AP) -- United Rentals Inc. said Monday that the U.S. antitrust waiting period related to its acquisition of rival rental equipment company RSC Holdings Inc. has expired without objections. But Canadian antitrust authorities have requested more information for their review of the deal.

The expiration of the U.S. waiting period on Friday satisfied one of the requirements for the $2.12 billion cash and stock deal to close.

But the companies said Canadian antitrust authorities on Friday requested additional information, effectively extending their review by 30 days.

Under the terms of the deal announced last month, RSC shareholders will receive $10.80 in cash and 0.2783 of a share of United Rentals common stock for each of their RSC shares.

Based on the Greenwich, Conn.-based company's Friday closing price, the deal values Scottsdale, Ariz.-based RSC at $20.40 per share, or a total of $2.12 billion.

The companies said they expect the deal to close in the first half of this year.

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