WillScot terminates McGrath acquisition; pays $180M fee; increases buyback to $1B

WillScot Holdings Corp

Mutually terminated merger with McGrath (Nasdaq: MGRC) due to no path to clear FTC regulatory requirements.
WillScot to pay $180M cash termination fee to McGrath within three business days.
Board increased share repurchase authorization to $1 billion; will prioritize buying own stock.
Company sees over $1B of prospective Adjusted EBITDA growth from organic initiatives.
Since 2021, returned over $2B to shareholders and reduced economic share count by ~25%.

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