United Rentals for sale?

25 March 2008

US rental giant United Rentals is exploring a “…broad range of strategic alternatives…including a possible sale, ” in order to maximize shareholder value. The company has retained financial advisors and will not disclose further information until its board has “completed its evaluation or approved a specific transaction”.

The 10 April announcement also reported the June 4 retirement of CEO Wayland Hicks, who will continue as vice chairman of the board. Michael Kneeland, currently executive vice president and chief operating officer, will succeed Mr Hicks as interim CEO.

Bradley S. Jacobs, chairman of United Rentals, said, "We deeply appreciate Wayland's significant contributions over the past decade and the leadership he has demonstrated."

Latest News
Lifetime Achievement Award for Costello Dismantling’s John Hastings
US-based contractor’s CFO honoured by trade association
Modulift beam recovers subsea machine
50 tonne custom beam for recovery operation
Skanska wins €395 million Norwegian road contract
Swedish contractor will build 2.3km section of E18 motorway near Oslo