theaveragejoe Posted July 24, 2012 Share #1 Posted July 24, 2012 Genesee & Wyoming said it will buy rival RailAmerica for $1.39 billion in cash to create one of the biggest regional railroad operators in the United States. A premium of about 11 percent to the stock's Friday close. RailAmerica said in May it was considering a potential sale of the company and had begun preliminary talks with third parties. Genesee on Monday said it expects to fund the acquisition and a simultaneous refinancing of its debt with $2 billion of new debt and $800 million of equity or equity-linked securities. It said it has received $2.3 billion of committed debt financing from BofA Merrill Lynch and $800 million of committed equity financing from private equity firm Carlyle Group Once the acquisition closes, Genesee will have 111 railroads and 15,100 miles of track. http://www.cnbc.com/id/48282535 Link to comment Share on other sites More sharing options...
theaveragejoe Posted July 24, 2012 Author Share #2 Posted July 24, 2012 http://investor.rail...17360= http://phx.corporate-ir.net/phoenix.zhtml?c=64426&p=irol-newsArticle&ID=1717069&highlight= Link to comment Share on other sites More sharing options...
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