WillScot, McGrath RentCorp shares down after merger collapses

Mcgrath Rentcorp

18/09/2024 17:51

** Shares of storage solutions firm WillScot  WSC.O  down 2%
at $39 and B2B rental company McGrath RentCorp  MGRC.O  down 3%
at $99 
    ** WSC and MRGC mutually terminate $3.8 bln merger
    ** WSC says both cos have mutually agreed to terminate the
transaction based on a joint determination that there was no
commercially reasonable path to clear the necessary regulatory
requirements for the transaction
    ** MGRC to receive $180 mln in termination fees from WSC
    ** Up to Tuesday's close, WSC down 9.6% and MGRC down 14.5%
YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com))