Triton stock soars 28% premarket on news to be acquired by Brookfield Infrastructure in $4.7 billion cash and stock deal
Triton International Ltd. (TRTN) said Wednesday it has agreed to be acquired by Brookfield Infrastructure Partners LP (BIP) in a cash and stock deal valued at about $4.7 billion. Under the terms of the deal, shareholders of Triton, a lessor of intermodal freight containers, will receive $68.50 a share in cash and $16.50 in BIPC Class A exchangeable shares for a total of $85 a share. The stock closed Tuesday at $63.01. The deal is expected to close in the fourth quarter and create a platform for Brookfield to grow in the transportation and logistics sector. Triton stock soared 28% premarket on the news.
-Ciara Linnane
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