Why General Finance Stock Is Soaring Today

Why General Finance Stock Is Soaring Today
Lou Whiteman, The Motley Fool
·2 min read

Shares of General Finance (NASDAQ: GFN) gained more than 50% on Friday morning after the portable storage company announced it has agreed to be acquired by United Rentals (NYSE: URI) for $996 million. The deal offers a substantial premium to General Finance's Thursday close, and the stock is moving as a result. After markets closed Thursday United Rentals announced its intention to acquire General Finance for $19 per share in cash, well above the target's previous close of $12.17.