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| RSC Holdings Inc. |
| RSC Holdings Inc. (NYSE: RRR) shareholder litigation in connection with alleged unfair takeover offer |
On December 16, 2011, RSC Holdings Inc. ("RSC" or
the "Company") announced that it has agreed to sell
the Company to United Rentals, Inc. (NYSE: URI).
Under the terms of the transaction, RSC shareholders
will receive $10.80 in cash and about 0.28 of a share
the "Company") announced that it has agreed to sell
the Company to United Rentals, Inc. (NYSE: URI).
Under the terms of the transaction, RSC shareholders
will receive $10.80 in cash and about 0.28 of a share
of United Rentals, Inc. stock for each RSC share they own. Based on prior closing prices, the
transaction values RSC stock at approximately $18 per share for a total transaction value of
approximately $4.2 billion, including $2.3 billion in assumed debt.
The investigation concerns whether the RSC Board of Directors breached their fiduciary duties to
RSC stockholders by failing to adequately shop the Company before entering into this transaction
and whether United Rentals, Inc. is underpaying for RSC shares, thus unlawfully harming RSC
stockholders.
transaction values RSC stock at approximately $18 per share for a total transaction value of
approximately $4.2 billion, including $2.3 billion in assumed debt.
The investigation concerns whether the RSC Board of Directors breached their fiduciary duties to
RSC stockholders by failing to adequately shop the Company before entering into this transaction
and whether United Rentals, Inc. is underpaying for RSC shares, thus unlawfully harming RSC
stockholders.
