United Rentals Inc, of Greenwich, completed its acquisition of RSC Holdings Inc, of Scottsdale, Arizona, on 30 April.

The two companies' shareholders approved the transaction in special meetings on April 27. Plans for the deal were disclosed on 15 December when the total enterprise value was listed at USD4.2 billion including USD2.3 billion of net debt.

Post-merger, United Rentals says it is "the largest equipment rental company in the world" with an integrated network of more than 970 rental locations in 48 US states and 10 Canadian provinces. The company says it has 12,000 employees and offers about 3,900 classes of equipment for rent with a total original cost of USD7 billion.

Michael Kneeland, president and chief executive officer of publicly traded United Rentals, says: "This combination will bring together two highly respected businesses to create a company that will provide our customers with an unparalleled level of fleet availability and customer service."

To close the transaction, the United board approved a new share repurchase program for up to USD200 million of the company's common stock. Under the program, the company may purchase shares on the open market or through privately negotiated transactions. United Rentals expects the program to be completed as market conditions allow within 18 months.

United says: "To ensure a swift and smooth integration, United Rentals and RSC have made significant progress on the integration planning process, which will begin immediately and incorporate the best practices of both companies across all operating business functions."

Jenne Britell remains chairman of the United Rentals' board of directors, which includes existing United Rentals members and three of RSC's independent directors, James Ozanne, Pierre Leroy and Donald Roof, who were appointed on 30 April.

Lead financial advisers on the transaction are Centerview Partners and Morgan Stanley & Co LLC for United Rentals and Barclays Capital and Goldman, Sachs & Co for RSC.