United Rental/Cerberus Delay Trial; Possible Settlement

| About: United Rentals, (URI)

Shares of United Rental (NYSE:URI) jumped Monday after the company's trial against Cerberus Capital Management was postponed by one day to explore a settlement. United Rental is taking Cerberus to court in an attempt to force the buyout firm to complete its deal to purchase United Rental for $34.50/share. The trial was set to begin Monday, but was delayed "to allow the parties to continue settlement discussions that were recently initiated," United Rental said. The announcement gave hope to investors who would like to at least part of the $4 billion deal go through. The deal was one of several leveraged buyouts that collapsed after the credit markets slumped in the late summer. United Rental finished 3% higher to $24.25 Monday.

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