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March 2, 2020, 6:46 a.m. EST

Mobile Mini's stock gains after WillScot buyout deal that values Mobile Mini at $1.9 billion

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By Tomi Kilgore

Shares of Mobile Mini Inc. rose 1.3% in premarket trading Monday, after the portable storage solutions company agreed to be acquired by WillScot Corp. /zigman2/quotes/206106687/composite WSC +2.44% in a deal that values Mobile Mini at about $1.9 billion. Under terms of the deal, Mobile Mini shareholders will receive 2.4050 WillScot shares for each Mobile Mini share they own. Based on Friday's stock closing prices, that values Mobile Mini shares at $42.18 each, and 8.2% premium. After the deal closes, which is expected in the third quarter of 2020, WillScot Chief Executive Brad Soultz will be CEO of the combined company will Mobile Mini CEO Kelly Williams will be president and chief operating officer. The companies expects cost synergies of $50 million. Mobile Mini's stock has gained 2.9% over the past three months and WillScot shares have slipped 0.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has shed 5.1%.

/zigman2/quotes/206106687/composite
US : U.S.: Nasdaq
$ 16.40
+0.39 +2.44%
Volume: 1.16M
Sept. 25, 2020 4:00p
P/E Ratio
102.95
Dividend Yield
N/A
Market Cap
$3.73 billion
Rev. per Employee
$375,706
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 0.00
Sept. 25, 2020 5:06p
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