XTRA Corp. merger with Interpool and Apollo officially terminated
BOSTON, Mass. — XTRA Corp. announced yesterday that it has mutually terminated its merger agreement with Wheels MergerCo.
Wheels MergerCo. is a limited liability company formed by Apollo Management IV LP and Interpool Inc. The companies said yesterday they would explore an alternative deal with XTRA.
Last month, Apollo had said on behalf of MergerCo that due to market conditions it did not think it would be able to obtain financing necessary to complete the deal.
XTRA also announced that it has cancelled its special meeting of shareholders scheduled for tomorrow.
XTRA leases, primarily on an operating basis, over-the-road trailers, marine containers, and intermodal equipment, including intermodal trailers, chassis, and domestic containers.
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