Shareholders of Bermudian-based Textainer Group Holdings Ltd have voted to approve the proposed $7.4 billion acquisition of the company by Stonepeak, a New York-headquartered alternative investment firm, specialising in infrastructure and real assets.

Upon closing the acquisition, Textainer’s common shareholders will have the right to receive $50 per common share in cash without interest and subject to any applicable withholding taxes.

The company said all required antitrust approvals that are conditions to closing the proposed transaction under the related merger agreement have been received.

Subject to the satisfaction of those conditions that by their nature are to be satisfied at the closing, the acquisition is currently anticipated to close on or about March 14, the company said.

Textainer has operated since 1979 and is one of the world’s largest lessors of intermodal containers with more than four million 20-foot equivalent units in its owned and managed fleet.