Deal, Caı

Deal, Caı

Mitsubishi HC Capital to buy CAI International in US$2.9 billion deal

Mitsubishi HC Capital to buy CAI International for US$2.9 billion

18/6/2021 4:07:00 AM

Mitsubishi HC Capital to buy CAI International for US$2.9 billion

REUTERS -Transportation finance and logistics company CAI International Inc said on Thursday it has entered into a definitive agreement to be ...

BookmarkREUTERS -Transportation finance and logistics company CAI International Inc said on Thursday it has entered into a definitive agreement to be acquired by Mitsubishi HC Capital Inc for an enterprise value of US$2.9 billion.The Japanese financial company has offered US$56.00 per share in cash, marking a 46.8per cent premium over CAI's last closing price, according to the company's statement https://refini.tv/3xtc0hv.

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AdvertisementAdvertisementThe deal has been unanimously approved by CAI's Board of Directors, the company said, adding that shares of CAI will no longer be listed on the New York Stock Exchange after the deal is complete.CAI also said Timothy Page, its former interim chief executive officer, has been promoted to president and CEO.

In September last year, Mitsubishi UFJ Lease struck a deal with its smaller rival Hitachi Capital, in a move to compete with global competitors and changed its name to Mitsubishi HC Capital Inc.(Reporting by Akriti Sharma in Bengaluru; editing by Uttaresh.V) headtopics.com

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