McGrath RentCorp Refocuses Strategy Post-Merger Termination

Mcgrath Rentcorp ( (MGRC) ) has issued an announcement.

McGrath RentCorp and WillScot Holdings Corporation mutually agreed to terminate their merger agreement, with McGrath set to receive a hefty $180 million termination fee. This decision reflects both companies’ strategic reassessment and McGrath’s reinforced focus on driving growth in its modular and portable storage solutions business. McGrath’s Board has also approved a significant increase in its stock repurchase program, signaling a strong commitment to enhancing shareholder value. An update on McGrath’s financial outlook and strategic plans is expected during their next earnings call.

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