Algeco Buying Williams Scotsman

Algeco SA, a French modular construction company owned by TDR Capital, has agreed to acquire Baltimore-based Williams Scotsman International Inc. (Nasdaq: WLSC). Williams Scotsman stockholders would receive $28.25 per share, or a 21% premium to last Wednesday's closing price. The total deal is valued at around $2.2 billion, including $1.24 billion in equity. Williams Scotsman is being advised by CIBC World Markets and Banc of America Securities, while Algeco is being advised by Morgan Stanley and Citigroup.