Big news in the rental world within the last week: United Rentals Inc. and RSC Holdings announced that they have entered into a definitive merger agreement under which UnitedRentals will acquire RSC in a cash-and-stock transaction valued at $18.00 per share, or a total enterprise value of $4.2 billion, including $2.3 billion of net debt. Both companies’ boards have approved the proposed transaction and recommended that their respective stockholders approve the proposed transaction.

United Rentals and RSC have already begun working on a plan to facilitate a smooth integration of the businesses and realization of over $200 million of potential cost savings.

“This transaction marks a transformative moment in our company’s history,” Michael Kneeland, president and CEO of United Rentals.