United Rentals' Stockholders Approve Merger

Greenwich, Conn.-based United Rentals recently announced that its stockholders approved the merger agreement providing for the purchase of the company by affiliates of Cerberus Capital Management, L.P. At a special meeting held Oct. 19, approximately 99.8 percent of the votes cast were in favor of the purchase, representing approximately 76.8 percent of the total voting power outstanding and entitled to vote at the meeting.

After the transaction closes, the company's holders of common stock will be entitled to receive $34.50 in cash for each share held.

The company currently anticipates that the transaction will close this month.