SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of McGrath RentCorp (Nasdaq – MGRC)
BALA CYNWYD – January 29, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of McGrath RentCorp (“McGrath RentCorp” or the “Company”) (Nasdaq – MGRC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini”) (Nasdaq – WSC). Under the terms of the agreement, McGrath RentCorp shareholders will receive for each of their shares either $123.00 in cash or 2.8211 shares of WillScot Mobile Mini common stock, as determined pursuant to the election and allocation procedures in the merger agreement under which 60% of McGrath’s outstanding shares will be converted into the cash consideration and 40% of McGrath’s outstanding shares will be converted into the stock consideration. The transaction values McGrath RentCorp at an enterprise value of $3.8 billion, including approximately $800 million of net debt.
The investigation concerns whether the McGrath RentCorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether WillScot Mobile Mini is paying fair value to shareholders of the Company.
If you own shares of McGrath RentCorp stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.