Brookfield to acquire freight container company Triton International for $4.7-billion

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Triton shares jumped 32 per cent amid news of the deal as the industry seeks to recover from an inventory overhang

is paying US$85 a share for Triton, US$68.50 of which will be paid in cash and the rest in class A exchangeable shares. The deal is a 35-per-cent premium to Triton’s closing price on Tuesday.

Triton is the world’s largest owner and lessor of freight containers, with a container fleet that encompasses more than seven million 20-foot equivalent units. “Triton is an attractive business with highly contracted and stable cash flows, strong margins and a track record of value creation,” Sam Pollock, chief executive of Brookfield, said in a news release.

Pending approval by Triton’s shareholders and required regulatory approvals, the transaction is expected to close in the fourth quarter.

 

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