 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. |
Recent Events: M&A Announcement
United Rentals to Acquire RSC Holdings for $4.2B
December 16, 2011
 LRCX | Lam Research Corporation entered into a definitive merger agreement to acquire Novellus Systems Inc. in an all-stock transaction valued at $3.3 billion. The combined enterprise, which will retain the name of Lam Research Corporation will be a semiconductor equipment company with a broad portfolio of market-leading products and multiple opportunities to drive value creation through significant revenue and cost synergies. Under the terms of the agreement, Novellus stockholders will receive 1.125 shares of Lam Research common stock for each share of Novellus that they own, in a tax-free exchange. Upon closing, Lam and Novellus stockholders will own 59% and 41%, respectively, of the combined company. |
Carlisle to Acquire Tri-Star Electronics
November 14, 2011
 CSL | Carlisle Companies Inc. announced the signing of a definitive agreement to acquire Tri-Star Electronics International Inc, a supplier of electronic interconnect components for mission-critical applications for commercial aerospace, defense and industrial customers. Tri-Star is a portfolio company of Brockway Moran & Partners. The transaction is structured as a cash merger at an enterprise value of $285 million. The acquisition is expected to be accretive to Carlisle in the first year. With annual sales of $95 million, Tri-Star is based in El Segundo, California, with machining facilities in Riverside, California, and Lugano, Switzerland. |
