URGENT: STOCKHOLDER VOTE JUNE 24, 2020
NEW YORK, June 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Mobile Mini, Inc. ("MINI" or the "Company") (NASDAQ: MINI) in connection with the proposed acquisition of the Company by WillScot Corporation ("WSC") (NASDAQ: WSC). Under the terms of the acquisition agreement, MINI shareholders will receive 2.4050 shares of WSC for each share of MINI they own, representing implied per share merger consideration of $36.03 based on MINI's June 4, 2020 closing price of $14.98.
If you own MINI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether MINI's board of directors acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a price target of $53.00, approximately $17.00 above the per-share consideration. Moreover, the Company recently announced positive financial results for the first quarter of 2020, including a $4.8 million increase in adjusted net income to $22.8 million, as compared to the first quarter of 2019.
Finally, upon closing of the transaction, WSC shareholders will own the majority of the combined company with a 54% stake, leaving MINI shareholders the remaining 46%. The acquisition will also grant WSC access to MINI's diverse portfolio of leading brands and expand its geographic footprint.
Given these facts, WeissLaw is concerned whether the proposed acquisition agreement undervalues the company, whether the board ran a fair process, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP