| Title: | United Rentals, Inc. (M&A Insight Note) |
| Price: | $100.00 |
| Publication Date: | Nov 20, 2007 |
| Company: | United Rentals, Inc. |
| Report Type: | M&A Insight Note |
| Brief Excerpt: | ...By far the hottest topic in M&A land this autumn is the unprecedented wave of so-called busted deals. Buyers, typically threatening to call the material adverse change clause contained in almost every merger agreement, ha ve been able to either re-trade the deal (i.e., cut the purchase price, as in the sale of Home Depot s supply business), modify the transaction significantly (e.g., Harman) or wa lk away by either paying a break-up fee (e.g., Acxiom) or alleging that they are entitl ed to walk without paying a fee (e.g., Sallie Mae). Some sellers have reacted angrily to this development. One of those sellers is United Rentals (URI) which yesterday sued private equity firm Cerberus over its cancellation of its buyout of URI. ... |
| Word Count: | 1705 |
| Length: | 3 Pages |
| Ticker: | URI |
| Related Report(s): | - United Rentals, Inc. (Corporate Governance Quotient (CGQ)): $250.00
...The board is controlled by a supermajority of independent outsiders (independent outsiders greater than ##%) The nominating committee is comprised solely of independent outside directors The compensation committee is comprised solely of independent outside directors The company has a committee that oversees governance issues and the committee met in the past year There are between nine and ## directors serving on the board The CEO serves on the boards of two or fewer other companies The company has governance guidelines that have been publicly disclosed on company website The performance of the board is reviewed regularly Outside directors meet without the CEO present and the number of meetings of the outside directors is specified A board approved CEO succession plan is in place Board members have express authority to retain outside advisors One or more director (but less than a majority of the board) has participated in an "ISS endorsed" director education...
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