I am not familiar with the 240U or the midmount mower that fits it. I own a 300U without a mower. I have 3 IH mowers (balanced head, one midmount) and one midmount Cub mower. So that is the depth of my experience.
Judging by the number, I am assuming the 240U is a step in the evolution of the Farmall C. The 300 is a step in the evolution of the Farmall H. The cutoff between those two lines is relevant in that the one is built heavier than the other. On the mower side of the equation, mid mount mowers had a couple different mounting configurations. Some, like my 115 mower, attached primarily to one side of the tractor. The nice thing about that is that it would be easier to adapt. Well sort of easy, they are VERY heavy and cumbersome. If, on the other hand, the mower mounts to both sides of the tractor, then adapting a lighter mower to a heavier tractor is going to be difficult.
There are a lot of variables and even if you were to adapt the mower to hang under your tractor, that doesn't mean it would function as designed. Hydraulic ports are just plumbing so I wouldn't fret over those. Mounting and operation are your issues. Take a look at the two tractors. The 240 looks a lot lighter than the 300 to me. Take some measurements of the mounting holes and brackets and compare to your 300.
If it were me, though, I would leave the 240U mower for someone who has a 240U and find the correct mower for your tractor.
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