URI Stock Price – United Rentals Inc. Stock Quote (U.S.: NYSE)


United Rentals to acquire BakerCorp for about $715 million in cash

United Rentals Inc. said Monday it has agreed to acquire BakerCorp International Holdings Inc. for about $715 million in cash. BakerCorp is a provider of tank, pump, filtration and trench shoring rentals serving a range of industrial sectors and the construction industry. The deal is expected to close in the third quarter and to boost adjusted per-share earnings within 36 months of closing. BakerCorp has about 950 employees and more than 4,800 customers in North America and Europe. United Rentals expected to update its 2018 outlook to reflect the combined operations as soon as the deal has closed. Separately, United Rentals said Chief Financial Officer William Plummer is retiring on Oct. 12. The board has appointed Jessica Graziano, controller and principal accounting officer, as its new CFO. Shares were slightly lower premarket, and are down 14.1% in 2018 through Friday, while the S&P 500 has gained 1.7%.

Source : MTV