Q: It looks like TGH is being acquired. I’ve read some of the news but I’m still not exactly sure what this means for my stocks and what I should do. Should I sell now? Or will by shares be automatically converted into the new company? Or will my shares be automatically converted into cash at a price of 1.92? If so, when does this happen?
Thank you!
Thank you!
5i Research Answer:
Toro Company (TTC) is acquiring TGH for $1.92 cash per share. Expected completion is March 2026. The deal is friendly, but the takeover premium was low and the stock is trading near the bid already, despite the timeframe to closing. The odds of a higher bid are quite low, but would be more than 0%. We would suggest holding for now. Shareholders will receive instructions, and it is best to notify one's broker to tender the shares when the time comes. Note that if one tenders and a new bid emerges shareholders will still get the new price. It is all cash, no TTC shares will be given.