Business news with words billion+capital+fee. 12 news.

UNITED Rentals Inc has agreed to accept a US$100 million breakup fee from Cerberus Capital Management LP, ending a six week battle over whether Cerberus could call off a US$4 billion acquisition of the largest US equipment-rental company. United Rentals rose 4.4 percent in New York trading after a 17 percent decline on December 21, when a Delaware Chancery Court judge ruled that private-equity firm Cerberus had the right to break off the takeover, Bloomberg News reported. United Rentals said it would not appeal and Cerberus said it would pay the fee. Cerberus agreed in July to pay US$34.50 per share for United Rentals' stock and backed out in November. Judge William B. Chandler III ruled last week that United Rentals should have known Cerberus had a right to pull out if it paid the US$100 million fee. "The decision out of Delaware was very clear," said Carl Tobias, a professor with the University of Richmond.

Cerberus Capital Management L.P. agreed Monday to pay United Rentals Inc. a US$100 million (euro69.4 million) breakup fee for dropping its US$4 billion (euro2.78 billion) purchase of the equipment-rental company.

United Rentals Inc. agreed to accept a $100 million breakup fee from Cerberus Capital Management LP, ending a six-week battle over whether Cerberus could call off a $4 billion acquisition of the largest US equipment-rental company. United Rentals...

United Rentals Inc. agreed to accept a $100 million breakup fee from Cerberus Capital Management LP, ending a six-week battle over whether Cerberus could call off a $4 billion acquisition of the largest U.S. equipment-rental company.

Cerberus Capital Management agreed Monday to pay United Rentals a $100 million breakup fee for dropping its $4 billion purchase of the equipment-rental...

Cerberus Capital Management L.P. agreed Monday to pay United Rentals Inc. a $100 million breakup fee for dropping its $4 billion purchase of the equipment-rental company.

United Rentals said on Monday that it will not appeal a Delaware judge’s ruling Friday that Cerberus Capital Management cannot be forced to complete its $4 billion buyout of the rental equipment operator. United Rentals said that it will terminate the deal and ask the private equity firm to pay the $100 million breakup fee stipulated [...]

NEW YORK (Reuters) - Equipment rental group United Rentals Inc said on Monday it terminated its $4 billion takeover by Cerberus Capital Management and asked Cerberus to pay it a $100 million termination fee.

Reuters - Equipment rental group United Rentals Inc said on Monday it terminated its $4 billion takeover by Cerberus Capital Management and asked Cerberus to pay it a $100 million termination fee.

UNITED Rentals Inc, the largest construction-equipment rental company in the United States, lost a bid to force a US$4-billion takeover by Cerberus Capital Management LP when a judge ruled the agreement allowed the buyer to withdraw its offer. Delaware Chancery Court Judge William Chandler ruled on Friday that United Rentals officials should have known that Cerberus executives believed they had a right to pull out of the deal at any time as long as they paid a US$100 million fee. United alleged that Cerberus's RAM Holdings buyout entities agreed in July to pay US$34.50 per share for United Rentals' stock, and reneged on the deal in November amid weakened US credit markets. The stock has been trading in the low-US$20 range. United Rentals fell US$3.69 to US$17.91 on Friday. "The board of directors and management team of United Rentals will consider its alternatives under the circumstances, and they continue to believe strongly in United Rentals' future prospects,"

A Delaware judge ruled Friday that Cerberus Capital Management could not be forced to complete its $4 billion deal for United Rentals, a rental equipment operator. After a two-day trial this week, William B. Chandler III of Delaware’s Court of Chancery said that the private equity firm need only pay a $100 million breakup fee, as [...]

Cerberus Capital Management, the private equity firm, has offered to negotiate new terms with United Rentals after abandoning a $4 billion buyout this week, according to regulatory documents. Cerberus said it offered “either to arrange for the payment of the negotiated $100 million termination fee, or to engage United Rentals in a constructive dialogue to negotiate [...]