McGrath terminates merger with WillScot, to receive $180M termination fee; board authorizes 2M share repurchase

MCGRATH RENTCORP

Mutual termination of merger with WillScot effective Sept 17, 2024; McGrath receives $180M termination fee within 3 business days.
Board increases share repurchase authorization to 2 million shares; timing subject to market conditions and legal requirements.
Company to provide financial outlook, business strategy, and capital allocation update during Q3 earnings call on October 24, 2024.
CEO highlights standalone strategy, commitment to customer focus and shareholder value; company has 33 consecutive years of dividend increases.

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