Brookfield Infrastructure (NYSE: BIP) and GIC, along with Brookfield Infrastructure’s institutional partners, will acquire U.S. freight railroad owner and operator Genesee & Wyoming Inc. (NYSE: GWR) in a transaction valued at approximately $8.4 billion including debt. Genesee & Wyoming stockholders will receive $112 in cash per share of common stock.
Genesee & Wyoming owns a portfolio of 120 short line railroads, predominantly in North America, with operations in Europe and Australia.
“For our current stockholders, the sale price realizes significant value and represents a 39.5% premium to our March 8 share price. And for long-term investors who have owned our shares for the past two decades, the sale price represents a return of more than 5,400%,” said Jack Hellmann, G&W CEO.
Genesee & Wyoming shares were trading higher by 8.5% at $108.50 in Monday's pre-market session.
Jensyn Acquisition Shareholders OK Merger With Peck Electric
Nicolet Bankshares To Buy Choice Bancorp For .4M
See more from Benzinga
- Famous Dave's Announces Partnership With Beyond Meat
- Everspin Technologies Cuts Q2 Guidance
- FTI Consulting Will Acquire German-Based Andersch AG
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.