MOBILE MINI INC., a publicly traded Phoenix company that makes temporary storage containers for businesses — Mobile Mini Inc., a publicly traded Phoenix company that makes temporary storage containers for businesses, said Monday it has inked a definitive agreement to enter into a "merger of equals" with WillScot Corp., a Baltimore company that manufactures portable offices and classrooms.
The all-stock deal, which is expected to close in the third quarter, will create a combined company with an enterprise value of about $6.6 billion, the companies said. WillScot shareholders will own 54% of the new entity. Mobile Mini shareholders will receive 2.4050 shares of WillScot stock for each share they own. The deal is subject to approval from shareholders of both companies.
Mobile Mini shares moved higher on the news, gaining $2.03, or 5.2%, to close Monday at $41.02. Track the stock here. WillScot shares fell 41 cents, or 2.3%, to $17.03.
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