U.S. Markets close in 4 hrs 16 mins

Brookfield Infrastructure To Buy Genesee & Wyoming In $8.4B Deal

Tanzeel Akhtar

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.

Related Links:

Jensyn Acquisition Shareholders OK Merger With Peck Electric

Nicolet Bankshares To Buy Choice Bancorp For .4M

See more from Benzinga

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.