Business news for Mon, 24 Dec 2007 & with words equipment+firm. 3 news.

Merrill Lynch & Co, the world's biggest brokerage, agreed to sell most of its commercial finance business to General Electric Co's finance arm for an undisclosed price to free up capital after subprime losses. The sale of Merrill Lynch Capital's corporate, equipment, energy and healthcare finance units is expected to be completed in the first-quarter, the companies said yesterday in a Business Wire statement. The deal will add more than US$10 billion in assets to GE Capital. The transaction is part of New York-based Merrill Lynch's "strategic focus on divesting non-core assets," and will release about US$1.3 billion of capital to be redeployed elsewhere, said Chief Executive Officer John Thain in the statement. Merrill, on October 24, announced US$8.4 billion of writedowns on mortgage-related investments and corporate loans. The firm, which ousted Stan O'Neal as CEO in October, may report an additional US$8.6-billion writedown for the fourth quarter, according to David

United Rentals ended its merger agreement with Cerberus after a court decision that the private-equity firm wasn't obligated to complete its proposed $4 billion buyout of the construction 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 [...]