WillScot gains after report activist TOMS has taken stake, pushing for review
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WillScot Holdings (NASDAQ:WSC) jumped 7% in after hours trading after a report that activist investor TOMS Capital Investment Management has accumulated a stake in the provider of modular buildings and storage.
The activist is urging WillScot (WSC) to evaluate starting a strategic review, according to a Bloomberg report on Tuesday, which cited people familiar with the matter. The size of the activist's stake wasn't known.
TOMS Capital and WillScot declined to comment to Bloomberg.
The TOMS stake comes after WillScot (WSC) agreed to mutually terminate a planned $3.8 billion takeover of McGrath RentCorp (MGRC) in September after the parties said there was no commercially reasonable path to clear the necessary regulatory requirements for the deal. In January, WillScot (WSC) agreed to acquire B2B rental company McGrath.
On Monday, WillScot (WSC) said it plans to participate in the Baird Global Industrial Conference next Tuesday.
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