McGrath RentCorp falls after WillScot agrees to mutually terminate deal Sep. 18, 2024 8:14 AM ET By: Joshua Fineman , SA News Editor [Seeking Alpha]
McGrath RentCorp (MGRC)
Last mcgrath rentcorp earnings: 4/29 04:01 pm
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Source: Seeking Alpha
WillScot ( WSC ) and McGrath ( MGRC ) 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, according to a statement on Wednesday. WillScot also announced that its board increased the existing share repurchase program to $1 billion. "While we are disappointed with this process, we are confident in our strategy and there are numerous opportunities to continue reinvesting in our business to deliver sustainable growth and returns over time,” said Brad Soultz, Chief Executive Officer of WillScot said in the statement. The deal termination comes after McGrath RentCorp. ( MGC ) and WillScot Mobile Mini ( WSC ) agreed in late July not to close their planned deal for two months after a request from the Federal Trade Commission, a deadline that was set for Sept. 27. The companies received a second request from the FTC about the deal in late February. I
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News
- Why McGrath RentCorp Stock Slumped on Wednesday [Yahoo! Finance]Yahoo! Finance
- Is Now The Time To Put McGrath RentCorp (NASDAQ:MGRC) On Your Watchlist? [Yahoo! Finance]Yahoo! Finance
- WillScot and McGrath RentCorp Mutually Agree to Terminate Previously Announced Combination [Financial Post (Toronto, Ontario, Canada)]Financial Post
- McGrath Confirms Agreement to Terminate Pending Merger with WillScotBusiness Wire
- McGrath RentCorp (NASDAQ: MGRC) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
MGRC
Earnings
- 7/25/24 - Miss
MGRC
Sec Filings
- 9/18/24 - Form 8-K
- 8/5/24 - Form 4
- 8/2/24 - Form 8-K
- MGRC's page on the SEC website