United Rentals to Acquire RSC Holdings for $4.2B

URI

URI

United Rentals Inc. and RSC Holdings Inc. entered into a definitive merger agreement under which United Rentals will acquire RSC for $18.00 per share, or a total enterprise value of $4.2 billion, including $2.3 billion of net debt, representing a 58% premium over RSC's closing price as of Dec 15, 2011. Upon the closing of the transaction, each outstanding share of RSC common stock will be converted into the right to receive $10.80 in cash and 0.2783 of a share of United Rentals common stock. The deal is expected to be accretive to United Rentals' cash EPS in the first full year after closing. The Boards of Directors of both companies have unanimously approved the proposed transaction.
EventVestor Insights on the impact of M&A Announcement Array event on stock prices:
URI stock price outperformed the market 2 out of 4 times over the last two years, by an average 3.9% the day it announced M&A Announcement events. During the one week period after M&A Announcement , the stock outperformed the market 2 out of 4 occasions by an average 0.0%.
URI stock price underperformed the market 2 out of 4 times over the last two years, by an average -1.3% the day it announced M&A Announcement events. During the one week period after M&A Announcement , the stock underperformed the market 2 out of 4 occasions by an average -9.1%.
URI peers (RRR, ELRC, RCII, MIND) have outperformed the market 4 out of 6 times over the last two years, by an average 13.3% the day they announced M&A Announcement events. During the one week period after M&A Announcement , these stocks outperformed the market 3 out of 6 occasions , by an average 0.8%.
URI peers (RRR, ELRC, RCII, MIND) have underperformed the market 2 out of 6 times over the last two years, by an average -1.5% the day they announced M&A Announcement events. During the one week period after M&A Announcement , these stocks underperformed the market 3 out of 6 occasions, by an average -2.6%.

There have been a total of 146 M&A Announcement announcements during the last 1 month.

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