Triton International Limited and Brookfield Infrastructure Partners L.P. (BIP - Free Report) , through its subsidiary Brookfield Infrastructure Corporation ("BIPC") and its institutional partners (collectively, "Brookfield Infrastructure"), declared a joint definitive agreement. Per the deal, Triton will be acquired in a cash and stock transaction by Brookfield at a total enterprise value of $13.3 billion.
Subject to customary closing conditions, which include approval by Triton's shareholders and receipt of required regulatory approvals, the deal is anticipated to be completed in the fourth quarter of 2023. The deal has been approved and recommended by Triton’s board of directors and by Brookfield Infrastructure.
Triton’s common shareholders will receive consideration valued at $85 per share, which includes $68.50 in cash and $16.50 in class A shares of BIPC.
Brian M. Sondey, chief executive officer at Triton, stated, "We believe this transaction provides an excellent outcome for all of Triton's stakeholders." He added, "The sale price provides significant value to our investors and represents a 35% premium to yesterday's closing share price. For our long-term shareholders, this transaction crystalizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. For our customers and employees, Brookfield Infrastructure's significant resources and long-term investment horizon will support Triton's franchise, underpin our commitment to providing unrivaled service, and support continued investment in our growing business."
Brookfield Infrastructure aims to maintain Triton's current investment-grade capital structure and support the operating and customer service standards to benefit Triton's customers and shareholders and long-term business growth.
So far this year, shares of Triton have gained 21.1% against the 2.7% loss of the industry it belongs to.
Zacks Rank & Stocks to Consider
Currently, Triton carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and American Airlines (AAL - Free Report) . Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings has an expected earnings growth rate of 40.8% for the current year. CPA delivered a trailing four-quarter earnings surprise of 33.35%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 15% over the past 90 days. Shares of CPA have risen 22.7% over the past six months.
AAL has an expected earnings growth rate of more than 100% for the current year. AAL delivered a trailing four-quarter earnings surprise of 7.79%, on average.
The Zacks Consensus Estimate for AAL’s current-year earnings has improved 40.5% over the past 90 days. Shares of AAL have gained 14.8% over the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Triton International Limited and Brookfield Infrastructure Partners L.P. (BIP - Free Report) , through its subsidiary Brookfield Infrastructure Corporation ("BIPC") and its institutional partners (collectively, "Brookfield Infrastructure"), declared a joint definitive agreement. Per the deal, Triton will be acquired in a cash and stock transaction by Brookfield at a total enterprise value of $13.3 billion.
Subject to customary closing conditions, which include approval by Triton's shareholders and receipt of required regulatory approvals, the deal is anticipated to be completed in the fourth quarter of 2023. The deal has been approved and recommended by Triton’s board of directors and by Brookfield Infrastructure.
Triton’s common shareholders will receive consideration valued at $85 per share, which includes $68.50 in cash and $16.50 in class A shares of BIPC.
Brian M. Sondey, chief executive officer at Triton, stated, "We believe this transaction provides an excellent outcome for all of Triton's stakeholders." He added, "The sale price provides significant value to our investors and represents a 35% premium to yesterday's closing share price. For our long-term shareholders, this transaction crystalizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. For our customers and employees, Brookfield Infrastructure's significant resources and long-term investment horizon will support Triton's franchise, underpin our commitment to providing unrivaled service, and support continued investment in our growing business."
Brookfield Infrastructure aims to maintain Triton's current investment-grade capital structure and support the operating and customer service standards to benefit Triton's customers and shareholders and long-term business growth.
So far this year, shares of Triton have gained 21.1% against the 2.7% loss of the industry it belongs to.
Zacks Rank & Stocks to Consider
Currently, Triton carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the Zacks Transportation sector are Copa Holdings, S.A. (CPA - Free Report) and American Airlines (AAL - Free Report) . Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings has an expected earnings growth rate of 40.8% for the current year. CPA delivered a trailing four-quarter earnings surprise of 33.35%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 15% over the past 90 days. Shares of CPA have risen 22.7% over the past six months.
AAL has an expected earnings growth rate of more than 100% for the current year. AAL delivered a trailing four-quarter earnings surprise of 7.79%, on average.
The Zacks Consensus Estimate for AAL’s current-year earnings has improved 40.5% over the past 90 days. Shares of AAL have gained 14.8% over the past six months.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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