Jan 18 Ontario Teachers' Pension Plan, one of
Canada's largest pension funds, said on Friday it will buy
SeaCube Container Leasing Ltd for about $467 million.
Under the terms of the agreement, SeaCube shareholders will
receive $23 for each share, a 13 percent premium to the
company's Friday closing on the New York Stock Exchange.
The deal, which is in U.S. currency, has been unanimously
approved by the board of SeaCube, and is expected to close in
the first half of 2013, Ontario Teachers' said in a statement.
The deal is being led by Ontario Teachers' Long-Term
Equities group. The pension fund also plans to operate SeaCube
as a standalone business operation with the current management
team remaining in place.
SeaCube is incorporated in Bermuda. The head office is in
Park Ridge, N.J.