Brookfield Infrastructure Drops 4% On Decision To Buy Triton

(RTTNews) - Shares of infrastructure company Brookfield Infrastructure Corporation (BIPC) are falling more than 4% Wednesday morning after the company announced its decision to acquire a lessor of intermodal containers Triton International for about $13.3 billion, in cash and stock.

Triton shareholders will receive consideration valued at $85 per share, a 35% premium to the closing price of Tuesday. This includes $68.50 in cash and $16.50 in class A shares of Brookfield Infrastructure Corporation.

The transaction is expected to close in the fourth quarter.

BIPC is at $44.17 currently. It has traded in the range of $37.54-$53.64 in the last 1 year.