United Rentals (URI) Buys General Finance for $19 Per Share Zacks.com 4 hrs ago
United Rentals, Inc.’s URI subsidiary, UR Merger Sub VI Corporation (Merger Sub) has completed the formerly-decided agreement to purchase General Finance Corporation (“GFN”). Per the tender offer, United Rentals paid $19 per share to General Finance, in cash, without interest, less any applicable withholding of taxes.
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General Finance which operates as Pac-Van and Container King in the United States and Canada, and as Royal Wolf in Australia and New Zealand is a leading provider of mobile storage as well as modular office space.
Continental Stock Transfer & Trust Company, LLC the Depositary suggested that all the 27,625,450 shares, represents nearly 91.4% of General Finance’s commons stock, had been tendered into and not validly withdrawn from the Offer.
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United Rentals, Inc. URI recently reached an agreement to acquire General Finance Corporation GFN. Per the deal, United Rentals will pay $19 per share in cash to General Finance. The total enterprise value stands at nearly $996 million, which includes the assumption of $400 million of net debt. Deal Rationale General Finance, which is a major provider of mobile storage as well as modular office space, operates as Pac-Van and Container King in.
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