SuttonBrook Capital Management LP last week revealed, in a filing with the Securities and Exchange Commission, that it owns about 5 million shares of United Rentals, a 5.83-percent stake, and may hold discussions with the rental company about a possible merger, reorganization or liquidation of the company.
SuttonBrook also said it could discuss board membership changes, an asset sale, changes to the company’s business structure or dividend policies.
Last month RAM Holdings and RAM Acquisition Corp, subsidiaries of Cerberus Capital Management LP, backed out of a $6.7-billion acquisition of United Rentals, including assumption of debt. United Rentals then filed a lawsuit to force Cerberus to complete the deal. Cerberus also filed suit to limit its liability to a $100-million breakup fee.
United Rentals, No. 1 on the RER 100, is based in Greenwich, Conn.