Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 21, 2023

Article Excerpt

TRITON INTERNATIONAL LTD., $82.96, symbol TRTN on New York, is the world’s largest owner and lessor of intermodal containers. It owns more than 7 million 20-foot equivalents (TEUs), and those shipping containers are used by some of the world’s largest shipping companies. The company leases and sells its container fleet through more than 400 independent third-party depots worldwide. Triton announced on April 12, 2023, that it had agreed to be taken private by Brookfield Infrastructure Partners L.P. (symbol BIP.UN on Toronto) through its subsidiary Brookfield Infrastructure Corp. (symbol BIPC on Toronto). Brookfield’s offer values Triton’s shares at $85 U.S. each. Brookfield plans to acquire Triton because it generates stable cash flow, much of it under long-term contracts, and solid profit margins. In addition, it gives Brookfield a platform for growth in the transportation and logistics sector. Brookfield Infrastructure Partners L.P. is contributing $1 billion in equity toward the acquisition, with its institutional partners contributing the rest. The transaction is expected to close in the…