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If you are a current investor in RSC Holdings Inc. (Public, NYSE: RRR) and purchased your NYSE:RRR shares prior to the announcement, and/or if have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
San Diego, Dec. 16, 2011 (Shareholders Foundation) -- Following the announcement by RSC Holdings Inc. that it agreed to be acquired by United Rentals, Inc for $18 per share prompted an investigation for investors in NYSE:RRR shares concerning whether the offer to acquire RSC Holdings and the buyout process are unfair to investors in RSC Holdings (RRR) shares and whether certain officers and directors breached their fiduciary duties.
The investigations by law firms concern whether RSC Holdings Inc, certain officers and directors, and/or others breached their fiduciary duties owed RSC Holdings (NYSE:RRR) investors in connection with the proposed acquisition.
On December 16, 2011, RSC Holdings, Inc. (NYSE: RRR) and United Rentals, Inc. (NYSE: URI) announced that they have entered into a merger agreement under which United Rentals will acquire RSC Holdings in a cash-and-stock transaction valued at $18.00 per share, or a total enterprise value of $4.2 billion, including $2.3 billion of net debt. RSC Holdings, Inc said the offer represents a 58% premium over RSC Holdings closing price as of December 15, 2011.
Following the takeover announcement NYSE RRR shares jumped from $11.35 per share on Thursday to $17.70 on Friday, December 16, 2011.
However the investigation for NYSE:RRR investors concerns whether the RSC Holdings Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to RSC Holdings Inc. (NYSE:RRR) shareholders by failing to adequately shop the Company before entering into this transaction.
RSC Holdings, Inc also disclosed on December 16, 2011 that Oak Hill Capital Partners has already agreed to vote its 33.5% shareholding in RSC Holdings, Inc in favor of the transaction.
Additionally, RSC Holdings Inc. financial performance lately improved. Its third quarter Revenue increased from $333.78million last year to $407.37million this year and its third quarter Net Loss in 2010 of $6.42million turned into a third quarter 2011 Net Income of $15.83million.
NYSE RRR shares grew at an exceptional growth rate over the past three years. NYSE RRR shares grew from $4.16 per share in March 2009 to as high as $14.49 per share on April 1, 2011.
A potential securities class action lawsuit would seek to maximize the amount of money and information NYSE:RRR shareholders would receive in a buyout, so the law firm.
