: United Rentals buying privately-held Ahern Rentals #FinanceUSA #StockMarketNEWS United Rentals Inc. said Monday it agreed to pay billion in cash for the assets of family-owned Ahern Rentals Inc.
@stockMarketNEWS Tue 15 Nov, 2022
United Rentals buying privately-held Ahern Rentals #FinanceUSA #StockMarketNEWS
United Rentals Inc. said Monday it agreed to pay billion in cash for the assets of family-owned Ahern Rentals Inc. The board of directors of United Rentals has approved the deal, which is expected to close by the end of 2022. The acquisition values 2,100-employee Ahern Rentals at about 6.5 times its 0 million adjusted earnings before interest, taxes, depreciation and amortization of 0 million and about 2.3 times its 7 million in revenue, both for the 12 months ended Sept. 30. United Rentals said it will pause its .25 billion stock purchase program during the early stages of its Ahern integration. For its part, Ahern Rentals agreed to the deal after it terminated its exchange offer of its 7.38% second priority senior secured notes in August. Shares of United Rentals fell 1.2% in premarket trades.
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