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Cerberus fights back against United Rentals

NEW YORK
Wed Nov 21, 2007 6:47pm EST

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A United Rentals location in an undated photo. REUTERS/Handout

NEW YORK (Reuters) - Buyout firm Cerberus Capital Management said on Wednesday it was taking legal action to ensure United Rentals Inc (URI.N) honors the terms of a deal the pair struck in July, which Cerberus says caps its liability at $100 million.

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Cerberus pulled its takeover offer for United Rentals of $34.50 per share, or $4 billion, last Wednesday. United Rentals said on Monday that it filed a lawsuit seeking to force Cerberus to complete the deal.

Cerberus said in a statement on Wednesday that it filed an action for a declaratory judgment against United Rentals in New York State Supreme Court seeking "to ensure that United Rentals honors" undertakings made at the time of the deal.

(Reporting by Megan Davies; editing by Andre Grenon)
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