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Stock Market & Financial Investment News

News Breaks
December 19, 2012
05:13 EDTGBX, ARIIGreenbrier determines Icahn's proposal grossly undervalues the company
The Greenbrier Companies (GBX) disclosed that the company and its advisors have been engaged in discussions with Carl Icahn and his associates regarding an acquisition of Greenbrier by American Railcar Industries (ARII) or an acquisition of American Railcar by Greenbrier. While Icahn's 13D/A disclosed a conditional proposal to acquire Greenbrier for $20 per share in cash, the company noted that in previous conversations with Greenbrier, Icahn talked about an acquisition of Greenbrier at a price of between $20 and $22 per share in cash. The Greenbrier board believes a price range of $20-$22 per share is inadequate, grossly undervalues the company and is not in the best interests of Greenbrier stockholders.
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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
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