Canadian authorities request more information on United-RSC deal
24 January 2012
United Rentals and RSC announced on Monday that the proposed acquisition deal had passed one antitrust deadline in the US but that Canadian competition authorities had requested further information on the transaction.
In the US the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act expired at 20 January 20, satisfying one of the conditions to the closing of the deal.
The Canadian Competition Bureau, however, has requested more information on the deal before it can complete its review. The issuing of this request will add a further 30 days ‘waiting period' under the terms of the Canadian Competition Act.
United and RSC said they were committed to working cooperatively with the Competition Bureau.
The two companies still expect the transaction to close during the first half of 2012.
