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Infrastructure Fund

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business2 years ago

Stonepeak's Acquisition of Textainer: Shipping-Container Firm Sold for $50 per Share

Infrastructure fund Stonepeak has agreed to acquire shipping container lessor Textainer Group for $2.1 billion, offering $50 per share in cash, representing a 46% premium to Textainer's closing price on Friday. The deal, including debt, is valued at approximately $7.4 billion and is expected to close in Q1. The agreement includes a 30-day "go-shop" period for Textainer to consider alternative acquisition proposals. Textainer will continue to be led by its current CEO and maintain its headquarters in Bermuda.