WillScot and McGrath RentCorp agree to terminate pending merger
09/18/24, 12:08 PM
McGrath RentCorp and WillScot Holdings Corporation have mutually agreed to terminate their previously announced merger agreement. As a result of this termination, McGrath will receive a termination fee of $180 million. McGrath RentCorp president and CEO, Joseph Hanna, expressed confidence in the company’s standalone strategy and its commitment to customer value and shareholder return. Additionally, McGrath remains focused on its modular and portable storage growth opportunities and plans to provide further updates on its business and financial prospects in the near future.