Neff Corp. Reports Receiving a Proposal From United Rentals Inc
MIAMI–(BUSINESS WIRE)–Jan. 2, 2001
Neff Corp. (NYSE:NFF), announced today that it has received a proposal from United Rentals Inc. (NYSE:URI) to acquire all of the outstanding shares of Neff Corp. held by the public at an exchange ratio of .18 shares of United Rentals for each share of the company, subject to the satisfaction of certain terms and conditions. Neff’s board of directors has established a special committee of independent directors to consider the proposal. The members of the special committee are Mr. Paul Dean and Mr. Michael Markbreiter. Cadwalader, Wickersham & Taft has been retained as legal counsel to the special committee. There can be no assurances that the proposed transaction or any similar type of transaction will be consummated.
Note: This press release contains forward-looking information within the meaning of the Private Securities Litigation reform Act. Actual results may differ materially from those projected in the forward-looking statements. Risks that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, risks inherent in the company’s growth strategy, such as the uncertainty that the Company will be able to identify, acquire and integrate attractive acquisition candidates; the Company’s dependence on additional capital for future growth; and the degree to which the Company is leveraged. Additional information concerning these and other risks and uncertainties is contained from time-to-time in the Company’s SEC filings. In light of these risks and uncertainties, there can be no assurance that the results referred to in forward-looking statements made in this press release will in fact occur.
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