Press release
Investigation for Investors in Mobile Mini Inc (NASDAQ: MINI) over potential Wrongdoing in Merger announced
An investigation on behalf of investors of Mobile Mini Inc (NASDAQ: MINI) in connection with the proposed takeover was announced.
Investors who purchased shares of Mobile Mini Inc (NASDAQ: MINI) and currently hold any of those NASDAQ: MINI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Mobile Mini Inc breached their fiduciary duties owed to NASDAQ: MINI investors in connection with the proposed acquisition.
Phoenix, AZ based Mobile Mini, Inc., together with its subsidiaries, provides portable storage and specialty containment solutions in the United States, the United Kingdom, and Canada. On March 2, 2020, WillScot Corporation (NASDAQ: WSC) and Mobile Mini, Inc. (NASDAQ: MINI) announced the companies have entered into a merger agreement under which WillScot will combine with Mobile Mini, a leading provider of portable storage solutions serving customers in the U.S., U.K., and Canada. Mobile Mini stockholders will receive 2.4050 shares of WillScot common stock for each share of Mobile Mini common stock in an all-stock merger of equals transaction. Based on closing price of $17.54 per NASDAQ: WSC shares investors in NASDAQ: MINI shares will receive a value of approximately $42.18 per share.
However, given that at least one analyst has set the high price target price for NASDAQ: MINI shares at $53.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MINI stockholders. More specifically, the investigation concerns whether the Mobile Mini Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Mobile Mini Inc (NASDAQ: MINI) reported that its annual Total Revenue rose from $593.22 million in 2018 to $612.62 million in 2019, and that its Net Loss of $8.06 million in 2018 turned into a Net Income of $83.73 million in 2019.
Shares of Mobile Mini Inc (NASDAQ: MINI) closed on March 13, 2020, at $30.59 per share.
Those who are current investors in Mobile Mini Inc (NASDAQ: MINI) shares have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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