Shares of WillScot Corporation, a leading provider of modular space and portable storage solutions, surged over 7% in after-hours trading on Monday following reports that activist investor TOMS has built a significant stake in the company and is pushing for a strategic review.

According to Bloomberg News, TOMS, a well-known activist firm, has acquired a position in WillScot and is urging the company to explore potential strategic alternatives, including a possible sale or merger. The firm believes WillScot's current market valuation does not fully reflect its growth prospects and potential for operational improvements.

WillScot has not yet commented on the matter, but activist investor involvement often sparks speculation about potential changes or transactions that could unlock shareholder value. Investors appear to be anticipating positive developments, as evidenced by the significant after-hours rally in the company's stock price.