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American Railcar makes USD543m bid for Greenbrier.

M2 EQUITYBITES-December 18, 2012-American Railcar makes USD543m bid for Greenbrier(C)2012 M2 COMMUNICATIONS

18 December 2012 - US hopper and tank railcars manufacturer American Railcar Industries Inc (NASDAQ:ARII) has proposed to acquire domestic rival Greenbrier Companies Inc (NYSE:GBX) for USD20.00 (EUR15.17) per share in cash, or some USD543m in total.

The offer, which represents a premium of 5.4% to the target's closing price on Monday, follows discussions between the companies on a possible combination, according to a filing today by Icahn Enterprises LP (NASDAQ:IEP) with the US Securities and Exchange Commission.

Icahn Enterprises is the investment vehicle of businessman Carl Icahn, who controls American Railcar. Icahn is also the largest shareholder of Greenbrier after last month he disclosed a 9.99% in it.

A possible deal would be subject to the successful completion of due diligence at Greenbrier.

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Publication:M2 EquityBites (EQB)
Date:Dec 18, 2012
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