WSC - Why B2B Rental Company McGrath RentCorp Shares Are Surging Premarket Monday | Benzinga
McGrath RentCorp (NASDAQ:MGRC) shares are trading higher after WillScot Mobile Mini Holdings Corp (NASDAQ:WSC) agreed to acquire the company for $3.8 billion.
The transaction, which includes about $800 million of net debt, represents a premium of 10.1% to McGrath’s closing share price on January 26, 2024.
As per the deal, McGrath’s shareholders will receive for each of their shares either $123.00 in cash or 2.8211 shares of WillScot Mobile Mini common shares, as determined pursuant to the election and allocation procedures in the merger agreement.
Also, around 60% of McGrath’s outstanding shares ...