By Jie Ma and Thomas Black, Bloomberg; June 30, 2019
An affiliate of Brookfield Asset Management Inc. agreed to buy Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia.
Brookfield will pay $112 a share in cash, a 40% premium from G&W’s close on March 8, the last day of trading before Bloomberg News reported that the railroad operator was exploring a possible sale. The stock rose 8.5% to $108.46, an all-time high, at 9:54 a.m. Monday in New York.