Tuesday, December 04, 2007

SuttonBrook Capital Accumulates 5.8% Stake in M&A Casualty United Rentals (URI)

In a 13D filing on United Rentals, Inc. (NYSE: URI), SuttonBrook Capital disclosed a 5.83% stake (5 million shares) in the company. This is up from the 350,000 share stake the firm held at the quarter ended September 30, 2007.

In a pretty standard disclosure, the firm did not make any direct requests on the company, but said they will monitor their investment and may enter discussions with management, the Board of Directors or others.
Recently, Cerberus said they are not prepared to proceed with the $34.50 per share acquisition of URI, which sent the stock tumbling lower. United Rentals currently trades at $22.90.

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