Triton Stock Soars 30% Premarket on News to Be Acquired by Brookfield Infrastructure in $4.7 Billion Cash and Stock Deal
marketwatch2023-04-12
Triton International Ltd. TRTN said Wednesday it has agreed to be acquired by Brookfield Infrastructure Partners LP BIP in a cash and stock deal valued at about $4.7 billion.
Under the terms of the deal, shareholders of Triton, a lessor of intermodal freight containers, will receive $68.50 a share in cash and $16.50 in BIPC Class A exchangeable shares for a total of $85 a share. The stock closed Tuesday at $63.01.
The deal is expected to close in the fourth quarter and create a platform for Brookfield to grow in the transportation and logistics sector. Triton stock soared 30% premarket on the news.
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