Shares of United Rentals Inc. fell 25 percent after the company confirmed reports that Cerberus Capital Management L.P. called off its $4 billion acquisition of the company.
Greenwich-based United Rentals rents a wide range of power tools for commercial and household use.
Since the Cerberus deal was announced, two shareholders have filed lawsuits in state court claiming the company did not disclose material information in regulatory filings. At last report, United Rentals was negotiating a settlement with Donald Lefari; the company stated that in the event of a settlement, a second lawsuit filed by Nathan Brundridge would be dismissed.
In the third quarter, United Rentals earnings were $112 million and revenues were $994 million.
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