Faruqi & Faruqi, LLP Announces Investigation of RSC Holdings, Inc. (RRR)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of RSC Holdings, Inc. (“RSC” or the “Company”) (NYSE: RRR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to United Rentals, Inc. (“United Rentals”) (NYSE: URI) in a cash-and-stock deal valued at about $4.2 billion, including $2.3 billion of net debt. Under the terms of the proposed transaction, RSC stockholders will have the right to receive $10.80 in cash and 0.2783 of a share of United Rentals common stock for each share of RSC common stock they own. Based on the closing price of United Rentals’ stock on December 19, 2011, the deal values RSC at $18.68 per share.
Whether RSC’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues RSC’s shares and by how much this proposed transaction undervalues the Company to the detriment of RSC’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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