Genesee & Wyoming sold in $8.4 billion deal

Shortline holding company to be taken private by Brookfield Infrastructure
Trains Industry Newsletter
Get a weekly roundup of the industry news you need.
By signing up you may also receive occasional reader surveys and special offers from Trains magazine. View our privacy policy.
GW

DARIEN, Conn. — Genesee & Wyoming, North America’s largest shortline holding company, is being purchased for $8.4 billion.

The acquisition, for $112 per share by Brookfield Infrastructure, was announced shortly before 7 a.m. EDT today. The deal will result in G&W becoming a privately held company.

“We believe this transaction is an excellent outcome for all G&W stakeholders,” said Jack Hellmann, G&W Chairman and Chief Executive Officer, in a press release. “For our current stockholders, the sale price realizes significant value and represents a 39.5% premium to our March 8th 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%.”

Genessee & Wyoming owns 120 shortline railroads, 114 in North America, with additional operations in Europe and Australia. Its North American railroads serve 41 states and four Canadian provinces and have over 13,000 track-miles

Brookfield Infrastructure, based in Toronto, owns utility, transportation, and energy assets including electric transmission and telecommunication lines, pipelines, ports, and toll roads. On its website, the company says it invests in “infrastructure assets that deliver essential goods and services” and that it currently manages over $65 billion in assets.

This is a breaking news story. Follow Trains News Wire for additional coverage.

NEWSWIRETrains News Wire

  • Previous Day
  • July 01, 2019
  • Next Day
Leave a Comment
Want to leave a comment?
Only registered members of TrainsMag.com are allowed to leave comments. Registration is FREE and only takes a couple minutes.

Login or Register now.
Please keep your feedback on-topic and respectful. Trains staffers reserve the right to edit or delete any comments.
0 COMMENTS
FREE DOWNLOAD

FREE DOWNLOAD

150 facts about the Transcontinental Railroad.

SEE INSIDE THIS ISSUE

Learn more about the stories and photos in this months issue

Newsletter Sign-Up

By signing up you may also receive occasional reader surveys and special offers from Trains magazine.Please view our privacy policy
Subscribe Up To 54% off the newsstand price!
Subscribe To Trains Mag Today
+