United Rentals To Buy Ahern Rentals For Around $2 Bln Cash; URI Down In Pre-Market

(RTTNews) - United Rentals, Inc. (URI), an equipment rental company, said on Monday that it has inked a definitive deal to buy Ahern Rentals, Inc. for around $2 billion in cash.

The transaction, expected to be closed prior to the year-end 2022, is accretive to United Rentals' adjusted earnings per share in its first year post-close.

For the 12 months ended on September 30, Ahern Rentals has generated total revenue of $887 million, with adjusted EBITDA of $310 million.

URI is trading down by 1.23 percent at $345 per share in pre-market on the New York Stock Exchange.