United Rentals and RSC Holdings stockholders voted to approve the proposed acquisition of RSC by United Rentals. At a special meeting held today, 83 percent of the outstanding shares of United Rentals entitled to vote voted in favor of the resolution dated Dec. 15. RSC said 84 percent of the shares present at its meeting voted in favor of the merger.
The approval of the stockholders of United Rentals was one of the final conditions remaining for the closing of the merger, as was the approval of the stockholders of RSC Holdings. Under the terms of the deal announced in December, 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. United Rentals and RSC Holdings entered into a definitive merger agreement in December under which United Rentals will acquire RSC in a cash-and-stock transaction valued of about $4.2 billion, including $2.3 billion of net debt.
United Rentals and RSC Holdings expect to close the merger on or about Monday April 30.
