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News Breaks | | | | December 19, 2012 | | 05:13 EDT |  | GBX, ARII | Greenbrier 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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