New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:00 EDTARII, GBXAmerican Railcar issues open letter to Greenbrier, raises offer to $22 per share
In an open letter to Greenbrier's (GBX) CEO, William A. Furman, American Railcar (ARII) wrote that the board is confused regarding Greenbrier's press release, stating that American Railcar's offer of $20.00 per share "grossly undervalues" Greenbrier. American Railcar strongly disagrees with Greenbrier's assertion; citing that on the day prior to the disclosure of American Railcar's ownership interest in Greenbrier, the company's stock closed at $13.95 per share. Moreover in the company's last earnings release, Greenbrier disclosed that FY13 railcar deliveries are forecasted to decline by 13% to 23% from 2012 levels and Greenbrier's stock price declined by 23% during the days following the release. As such, American Railcar Railcar is willing to acquire Greenbrier at a price of $22.00 per share, payable in cash, in a negotiated transaction. The offer price represents a 57% premium to the closing price of Greenbrier's stock on the day before American Railcar disclosed its ownership interest in the company and a 46% premium to the volume weighted average price of Greenbrier stock during the 30 trading day period prior to such date. American Railcar's offer represents full value for Greenbrier and will not be increased under any circumstances.
News For ARII;GBX From The Last 14 Days
Check below for free stories on ARII;GBX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 23, 2014
15:28 EDTGBXGreenbrier says prepared for tank-car retrofits required by DoT
The Greenbrier Companies responded to the U.S. Department of Transportation's proposed rulemaking on the safe movement of flammable liquids by rail, including crude oil and ethanol. While Greenbrier is examining the details of the proposed rulemaking and will provide full comments at a later date, Jack Isselmann, VP External Affairs and Communications today made the following statement: "Greenbrier is pleased that Secretary Foxx recognizes the urgency of completing this rulemaking and we commend his stated intention to issue a rule in the next 60 days. A final rule will provide the clarity the industry needs to make investments that ensure that crude oil and other flammable commodities are classified properly and transported in tank cars that are safer at any speed. We are also gratified that two of the three alternate new design standards proposed by the Department call for a 9/16-inch thick steel shell, a safety feature that Greenbrier has consistently championed with our next generation 'Tank Car of the Future' design. This design can better withstand the additional demands associated with operating unit trains like the high-hazard flammable trains identified today by the Department. A two-year timetable for phasing out the use of older DOT-111 cars in the most hazardous flammable service is aggressive, but can be achieved through a combination of increased new tank car production and appropriate retrofit packages for tank cars that meet a more robust safety standard. Greenbrier is prepared to meet the need for tank car retrofits with our newly-launched joint venture for railcar repair and retrofitting, GBW Railcar Services."
11:18 EDTARII, GBXDoT proposes phase out of older DOT 111 tank cars for certain flammable liquids
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use