adminBy Colin Kellaher
Shares of Textainer Group Holdings surged more than 40% in premarket trading Monday after the shipping-container lessor agreed to be acquired by infrastructure investor Stonepeak for about $2.1 billion.
Stonepeak late Sunday said it would pay $50 a share in cash for Textainer, a more than 46% premium to Friday’s closing price for the Hamilton, Bermuda-based company.
Including Textainer’s debt, the deal is worth roughly $7.4 billion.
The transaction, which includes a 30-day “go-shop” period that lets Textainer solicit other offers, is slated to close in the first quarter of 2024.
Textainer shares were recently up 42% to $48.52 in premarket trading.
Write to Colin Kellaher at [email protected]
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