Brookfield, GIC to buy freight rail operator Genesee & Wyoming for $6.4 bn
Monday, July 08, 2019
On Monday, the 1st of July 2019, Singaporean state-controlled wealth fund GIC and Canada’s Brookfield Asset Management had reached an accord to purchase Genesee & Wyoming, US freight railroad owner, at an all-cash buyout deal of $6.4 billion, while GIC and Brookfield’s offer of $112 per share stood for a premium of 12 percent to Genesee’s closing price on Friday (June 28th).
Nonetheless, followed by the reveal of acquisition, Genesee’s shares were up by 8.85 percent to $108.85 on Monday’s (July 1st) market closure. Including debt, the buyout deal for the American short-line railroad company, founded back in 1899, valued at $8.4 billion, Genesee said at a statement on Monday (July 1st).