Why CAI International Stock Is Soaring Higher Today

·2 min read
Why CAI International Stock Is Soaring Higher Today

Shares of CAI International (NYSE: CAI) jumped 45% higher on Friday after the transportation equipment finance provider agreed to be acquired for $2.9 billion. Mitsubishi HC Capital has agreed to pay $56 in cash per share for CAI, a significant premium over the company's Thursday close. CAI's primary business is buying large equipment, primarily intermodal shipping containers and railcars, which it leases to shipping and transportation customers.

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