Brief: CAI International Enters Into Definitive Agreement To Be Acquired By Mitsubishi HC Capital

Mitsubishi HC Capital

18/06/2021 24:42

June 17 (Reuters) - Cai International Inc  CAI.N :
    * CAI INTERNATIONAL, INC. ENTERS INTO DEFINITIVE AGREEMENT
TO BE
ACQUIRED BY MITSUBISHI HC CAPITAL INC.
    * PURCHASE PRICE OF $56.00 PER COMMON SHARE IN CASH
    * TOTAL EQUITY VALUE OF APPROXIMATELY $1.1 BILLION
    * SHARES OF CAPITAL STOCK OF CAI WILL NO LONGER BE LISTED ON
NEW
YORK STOCK EXCHANGE
    * CAI INTERNATIONAL- CASH CONSIDERATION OF $56.00 PER SHARE
OF
COMMON STOCK REPRESENTS 46.8% PREMIUM OVER CO'S CLOSING STOCK
PRICE TODAY, JUNE 17, 2021
    * TRANSACTION IS NOT CONTINGENT ON RECEIPT OF FINANCING BY
MHC
    * CAI INTERNATIONAL-BOARD HAS ALSO UNANIMOUSLY VOTED TO
PROMOTE
TIMOTHY PAGE FROM INTERIM PRESIDENT AND CHIEF EXECUTIVE OFFICER
TO PRESIDENT AND CEO
    * CAI INTERNATIONAL - CAI'S BOARD OF DIRECTORS HAS
UNANIMOUSLY
APPROVED TRANSACTION
    * TRANSACTION IS NOT CONTINGENT ON RECEIPT OF FINANCING BY
MHC
    * TOTAL ENTERPRISE VALUE OF $2.9 BILLION

Source text for Eikon:  ID:nBw5xsjXTa 
Further company coverage:  CAI.N 

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