Ademi & O’Reilly, LLP is investigating Mobile Mini (Nasdaq: Mini) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to Mobile Mini.
Ademi & O’Reilly, LLP alleges Mobile Mini’s financial outlook is improving and yet shareholders will receive only 2.4050 shares of WillScot common stock for each share of Mobile Mini common stock held and, or the equivalent of $42.10 per share based on the price of WillScot’s Class A common stock on February 28, 2020. The merger agreement unreasonably limits competing bids for Mobile Mini by prohibiting solicitation of further bids, and imposing a termination penalty if Mobile Mini accepts a superior bid. Mobile Mini insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Mobile Mini’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Mobile Mini.