Testimony has ended in the case that will determine whether private equity firm Cerberus Capital Management LP must pay a $100 million break-up fee for pulling out of its acquisition of United Rentals.
It could also be compelled to complete the $4 billion deal, Reuters has reported.
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A Delaware court will hear the case that United Rentals, Greenwich, CT, initiated on Nov. 19, 2007, against Cerberus acquisition vehicles RAM Holdings Inc. and RAM Acquisition Corp.
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The lawsuit seeks to compel Cerberus to complete its purchase of United Rentals.
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United Rentals has said it has fulfilled its obligations under the merger agreement with Cerberus and stands ready to complete the merger transaction on the agreed-upon terms.
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