URI - United Rentals to buy out General Finance for $996M

United Rentals (URI) will acquire General Finance (GFN) for $19/share in cash, representing a total enterprise value of ~$996M, including the assumption of $400M of net debt. General Finance’s rental fleet consisted of approx. 100,000 units at an original cost of ~$639M. URI intends to commence a tender offer by April 26, to acquire all of the outstanding GFN shares.The transaction, expected to close in Q2, will be accretive to EPS and free cash flow. "We see strong growth potential from this combination, including our ability cross-sell mobile storage and office solutions to our customers. Our expansion into this space comfortably checks all three boxes of our M&A criteria — strategic rationale, financial impact and cultural fit,” said Matthew Flannery, President and CEO United Rentals. URI will hold a conference on April 16, at 8:30 a.m. ET.SA contributor Carleton Hanson says United Rentals appears to be a profitable investment for

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United Rentals to buy out General Finance for $996M