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Re: johnsyn post# 58

Tuesday, 01/22/2013 10:36:56 AM

Tuesday, January 22, 2013 10:36:56 AM

Post# of 84
What a great investment this one has been for me. So simple and yet so steady. I hate to lose it!


More info....

DJ Ontario Teachers Pension Plan to buy SeaCube for About $467 Million


8:03 PM (GMT-05:00) Eastern Time (US & Canada) Jan 18, 2013
By Debbie Cai Canada's largest single-profession pension plan will acquire SeaCube Container Leasing Ltd. (BOX) for $23 per share, saying the container leasing company is a good investment fit for the fund. Shares rose almost 13% after hours. The stock is up 35% over the past 12 months. The per-share offer values Park Ridge, N.J.-based SeaCube at about $466.6 million and represents a 13.3% premium to the company's Friday closing price of $20.30. The company had about 20.3 million shares outstanding as of Nov. 1. The deal, unanimously approved by SeaCube's board, is expected to close in the first half of this year. SeaCube acquires, owns, manages and leases containers that are essential intermodal equipment used in global containerized-cargo trade. Equipment is primarily leased under long-term contracts to the world's largest shipping lines. Ontario Teachers' Pension Plan, which had $117.1 billion in assets as of Dec. 31, said it plans to operate SeaCube as a standalone business operation with the current management team remaining in place. In November, SeaCube said its third quarter profit rose 30% as it recorded stronger revenue and continued to grow its container fleet. Write to Debbie Cai at debbie.cai@dowjones.com


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