Textainer take-private

Stonepeak agreed in October 2023 to acquire Textainer in a transaction carrying approximately $7.4 billion enterprise value. Common shareholders were offered $50 per share in cash, totaling approximately $2.1 billion of common equity value; enterprise value is not Stonepeak's equity cheque. The board unanimously approved the agreement and included a 30-day go-shop period. The company leases intermodal containers to shipping lines and other customers through an international office and depot network. Stonepeak cited contracted cash flows and hard assets as the investment rationale. Textainer was to retain its Bermuda headquarters and Olivier Ghesquiere as chief executive. Stonepeak's subsequent official review confirms that the acquisition completed in March 2024.