Genesee & Wyoming to buy RailAmerica for $1.39 billion

Started by Jason, July 27, 2012, 11:05:37 AM

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Jason

July 27, 2012, 11:05:37 AM
QuoteGenesee & Wyoming to buy RailAmerica for $1.39 billion

Jacksonville Business Journal by Michael Clinton, Web Producer
Date: Monday, July 23, 2012, 9:04am EDT - Last Modified: Tuesday, July 24, 2012, 11:41am EDT

See correction at end of article.

Genesee & Wyoming Inc. has agreed to buy RailAmerica Inc. for $1.39 billion, according to a news release.

Genesee & Wyoming (NYSE: GWR) will pay $27.50 per share â€" a 10.84 percent increase from RailAmerica’s closing price per share of $24.81 Friday. That is also a 27.61 percent increase over RailAmerica’s May 21 share price of $21.55 â€" the last trading day before RailAmerica confirmed the sale of the company was being explored.

The deal will combine the two largest short-line and regional rail operators in North America, according to the news release.

Read the reat at Jax Buisness Journal:
http://www.bizjournals.com/jacksonville/news/2012/07/23/ganesee-wyoming-to-buy-railamerica.html



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