Shareholders of Rollins validly tendered approximately 54,982,000 shares -- approximately 94.8% of the outstanding shares -- of Rollins, which have been accepted for payment at a price of $13 per share in cash. In addition, Penske Truck Leasing received Notices of Guaranteed Delivery with respect to approximately 915,000 shares -- some 1.6% of the outstanding shares -- that have not yet been validly tendered.

Under the terms of the tender offer, shares of common stock listed in a Notice of Guaranteed Delivery must be validly tendered within three trading days following the delivery of the notice in order for Penske to accept the shares for payment, the company said. Penske intends to complete the transaction by acquiring the remaining outstanding shares of common stock of Rollins through a merger.

Penske, with annual revenues of approximately $2.7 billion, will merge its fleet of 144,000 heavy-, medium-, and light-duty trucks and network of 750 locations in the United States, Canada, Mexico, South America and Europe, with Rollins’ 53,000 vehicle fleet and 270 U.S. and Canadian locations.