Why Mobile Mini Stock Popped 5% Today
Shares of Mobile Mini (NASDAQ: MINI), a provider of portable storage containers, jumped to close the day 5.2% higher on Monday. The move came after the company announced plans to merge with rival WillScot (NASDAQ: WSC) to create "an industry leading specialty leasing platform with a highly predictable modular space and portable storage leasing portfolio, complementary capabilities, and a strengthened customer value proposition."
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The merger will be organized as a buyout of Mobile Mini by WillScot, with the latter company exchanging 2.405 shares of WillScot for every one share of Mobile Mini acquired. The companies are characterizing the deal as "approximately $6.6 billion" in size, including their respective debt loads.
Source Fool.com
