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UNITED RENTALS, INC. 8-K Report, Acquisition Completed (Jul 31, 2018)

Reports
Acquisitions & Dispositions·Regulation FD·Exhibits & Filings
Filing Date
Filed July 31, 2018
Period End
July 31, 2018
Security
URI
In the record · 2016–202610-K1110-Q328-K170

URI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Oct ’17Oct ’17
  2. Leadership change8-K · Sep ’20Sep ’20
  3. Deal closed8-K · Dec ’22Dec ’22
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed July 31, 2018. Cited figures are marked; the original filing is the authoritative source.

United Rentals, Inc. (URI) has officially completed its acquisition of BakerCorp International Holdings, Inc. (BakerCorp) through a merger, effective July 31, 2018.

This strategic move, involving a purchase price of $715 milliona, subject to adjustments, is expected to enhance URI's market position. The company has also secured a representations and warranties insurance policy to further protect against potential breaches. In conjunction with the acquisition's closing, URI has updated its 2018 financial guidance to incorporate the impact of the BakerCorp integration.

Investors should note that the full details of the merger agreement were previously filed and incorporated by reference. This transaction marks a significant development for United Rentals, aiming to drive growth and potentially improve operational synergies.

02—Key points

Key Highlights

  1. Completion of the acquisition of BakerCorp International Holdings, Inc. (BakerCorp) on July 31, 2018.
  2. The aggregate purchase price for BakerCorp is $715 million, subject to customary adjustments.
  3. BakerCorp has been merged into United Rentals (North America), Inc. (URNA), with URNA continuing as the surviving entity.
  4. United Rentals has obtained a representations and warranties insurance policy to supplement the indemnity escrow amount.
  5. The company has updated its 2018 financial guidance to reflect the impact of the BakerCorp acquisition.
  6. The merger agreement was originally entered into on June 30, 2018.

03—Questions

Frequently Asked Questions

  1. What was the total cost of the BakerCorp acquisition?

    The aggregate purchase price for BakerCorp was $715,000,000, subject to customary purchase price adjustments as outlined in the Merger Agreement.

  2. How will the BakerCorp acquisition impact United Rentals' financial outlook?

    United Rentals has updated its 2018 financial guidance to reflect the consummation of the BakerCorp merger. Investors should refer to the press release furnished with this 8-K filing for specific details on the guidance updates.

  3. What is the strategic significance of acquiring BakerCorp?

    While the 8-K filing focuses on the transaction's completion, acquisitions like this are typically aimed at expanding market share, enhancing service offerings, and potentially achieving operational synergies. BakerCorp's operations will be integrated into United Rentals (North America), Inc.

  4. Are there any specific risks associated with this acquisition mentioned in the filing?

    The filing mentions that United Rentals has purchased a buy-side representations and warranties insurance policy to cover potential breaches of BakerCorp's representations and warranties. This policy is subject to customary retention amounts, exclusions, and deductibles, indicating a level of risk mitigation.

04—Continue

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