SuttonBrook Reports 5.83-Percent Stake in United Rentals

December 19, 2007 • New York, N.Y.-based SuttonBrook Capital Management reported owning 5 million shares of United Rentals stock in a report to the Securities and Exchange Commission filed Dec. 4, 2007. The shares represent a 5.83-percent stake in the rental company.

According to an Associated Press report, the New York investment firm said it may hold discussions with Greenwich, Conn.-based United Rentals, other shareholders or potential acquirers of the company regarding a possible merger, reorganization or liquidation of the company, a sale of assets, material changes to the company's business structure, or changes in the board of directors, among other considerations.

 

United Rentals last month commenced litigation against RAM Holdings Inc. and RAM Acquisition Corp. acquisition vehicles formed by Stephen A. Feinberg's Cerberus Capital Management, L.P. to acquire United Rentals. The lawsuit, filed in the Delaware Court of Chancery, seeks to compel the Cerberus acquisition vehicles to complete the agreed-upon transaction, reportedly valued at nearly $7 billion.