Textainer announces expiration of the 30-day ‘go-shop’ period

Textainer announced the expiration of the 30-day “go-shop” period under the terms of the previously announced definitive agreement to be acquired by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. Under and subject to the terms of the agreement, Stonepeak will acquire Textainer for $50.00 per share in cash, representing an enterprise value of approximately $7.4B. The “go-shop” period expired at 12:01 a.m. Eastern Time on November 22. During the “go-shop” period, Textainer and its financial advisor were permitted to actively solicit and consider alternative acquisition proposals. Neither Textainer nor its representatives received an alternative acquisition proposal during the “go-shop” period. The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including approval by Textainer shareholders and the receipt of required regulatory clearances and approvals. Upon closing of the transaction and the redemption of Textainer’s Series A and B cumulative redeemable perpetual preference shares, Textainer will become a private company and its common shares will no longer be listed on the New York Stock Exchange or the Johannesburg Stock Exchange.