(RTTNews) - McGrath RentCorp (MGRC) confirmed that WillScot Holdings (WSC) and the company mutually agreed to terminate their merger agreement. McGrath is receiving a termination fee of $180 million. Also, McGrath said its Board has authorized an increase in the common stock repurchase plan to 2 million shares.
McGrath said its strategic focus on modular and portable storage growth opportunities will continue. The company said it remains committed to building long-term shareholder value through strategic focus, disciplined capital allocation and consistent execution.
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