United Rentals, Inc. (“United Rentals” or “the company”) announced Oct. 2, that it has completed its previously announced acquisition of Neff Corporation (“Neff”) for a total purchase price of approximately $1.3 billion.
United Rentals, Inc. (“United Rentals” or “the company”) and Neff Corporation, operating as Neff Rental (“Neff”), has announced that on September 21, 2017, the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the pending acquisition of Neff by United Rentals.
United Rentals Inc., the world's largest construction equipment rental company, will buy Neff Corp. for about $1.3 billion, the companies said, topping H&E Equipment Services Inc's about $1.2 billion offer last month. United Rentals will pay $25 per share, representing a 26.9 percent premium to Neff stock price prior to H&E's July 14 deal.
H&E Equipment Services Inc. and Neff Corporation recently announced that they have entered into a definitive merger agreement under which H&E Equipment Services (“H&E”) will acquire Neff Corporation (“Neff”). Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, H&E will pay $21.07 in cash per share of Neff common stock, for a total enterprise value of approximately $1.2 billion, including approximately $690 million of net debt.
IronPlanet, a leading online marketplace for selling and buying used equipment and other durable assets, today announced details and new technology innovations for its upcoming Florida Cat Auction Services Unreserved Public Auction. Following the record-breaking success of its 2016 Florida sale, this year's event will be held over five days in order to meet the needs of the dozens of featured Caterpillar dealers, leading OEMs, dealers, construction companies, rental companies, financial institutions, and other large fleet owners that have consigned equipment.