Shares of CAI International Inc. rose more than 45% in premarket trading Friday after the transportation-finance company agreed to be acquired by Mitsubishi HC Capital Inc. in a deal with a total equity value of about $1.1 billion.
CAI investors will receive $56 a share in cash under the deal, a nearly 47% premium to Thursday’s closing price of $38.16 for the San Francisco company.
CAI said it expects the deal to close late in the third quarter or early in the fourth quarter.
CAI shares were recently up 45.4% to $55.50 in premarket trading.