logo
  Join        Login             Stock Quote

Icahn's American Railcar (ARII) Proposes To Acquire Greenbrier (GBX) For $20/Shr

 December 18, 2012 08:10 AM
 


(By Balachander) American Railcar Industries Inc. (NASDAQ: ARII), controlled by billionaire-investor Carl Icahn, has proposed to acquire railcar maker Greenbrier Companies Inc. (NYSE: GBX) for $20 per share in cash.

The offer represents a premium of 5.4 percent to GBX's closing price of $18.97 on Monday.

Icahn disclosed a 9.99 percent stake, or about 2.71 million shares, in Greenbrier last month, calling the shares were undervalued.

The activist investor also plans to have further talks possibly relating to "strategic opportunities", a regulatory filing in November showed.

[Related -Carl Icahn's Biggest Dividend Stock Holdings]

Icahn tried to merge Greenbrier with American Railcar in 2008, but was unsuccessful.

"Fundamentally, the mixes of these two companies are complementary," Susquehanna Financial said last month.

Greenbrier is engaged in the manufacture of railroad freight car equipment in North America and Europe. American Railcar designs hopper and tank railcars in North America.

GBX shares have been trading in the 52-week range of $13.10 to $26.66.

ARII shares closed at $32.22 on Monday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChart Says This Retailer's Comeback Isn't Finished

One of the surprises, at least on the surface, of the market's recent swoon was the outperformance of read on...

article imageETF Performance Review: Major Asset Classes | 19 Dec 2014

It’s all about real estate investment trusts (REITs) these days when it comes to bullish performance among read on...

article imageOil and Global Stock Markets Rebounding Sharply

So far so good on our expectation of a 4 to 5% pullback and then a resumption of the bull read on...

article imageGrading the FOMC

Love its members or loathe them, you have to admire the gradual impact the policy-making committee has had read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.