(Reuters) – WillScot Holdings mutually terminated its $3.8 billion acquisition of McGrath RentCorp, the latter said on Wednesday.
McGrath said it would receive $180 million in termination fees from WillScot.
Based in Phoenix, Arizona, WillScot leases modular space and portable storage units to various sectors, including construction, commercial and industrial, energy and natural resources, government and healthcare end markets.
McGrath specializes in renting and selling relocatable modular buildings, storage containers and offices and electronic test equipment.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Mohammed Safi Shamsi)