Greenwich, Conn.-based United Rentals last week announced that it will hold a special meeting of stockholders on Oct. 19, to vote on a proposal to adopt its merger agreement with affiliates of Cerberus Capital Management, L.P. Pursuant to the agreement, United Rentals is to be acquired pursuant to a merger in which each share of United Rentals common stock will be converted into the right to receive $34.50 in cash.
The meeting will be held at 10 a.m., local time, at the Stamford, Conn., Marriott. Stockholders of record as of the close of business on Monday, Sept. 10, will be entitled to vote at the special meeting. The definitive proxy statement regarding the proposed merger, together with a proxy card and notice of the special meeting, will be mailed to United Rentals stockholders this week.
Completion of the merger is subject to the adoption of the merger agreement by the company's stockholders at the special meeting and the satisfaction of the other closing conditions set forth in the merger agreement. The company currently expects to complete the proposed merger during the fourth quarter.
United Rentals is No. 1 on the RER 100.