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December 19, 2012
05:13 EDTARII, GBXGreenbrier 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.
News For GBX;ARII From The Last 14 Days
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May 1, 2015
15:30 EDTGBXGreenbrier commends final tank car safety standards
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10:49 EDTGBX, ARIIDOT reports rule to strengthen safe transportation of flammable liquids by rail
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April 30, 2015
15:35 EDTARIIAmerican Railcar upgraded to Buy from Hold at Standpoint Research
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11:06 EDTGBXOptions with increasing implied volatility
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10:31 EDTARIIAmerican Railcar says energy related lease rates have softened
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10:27 EDTARIIAmerican Railcar says lease fleet to exceed 10,000 railcars by 2015-end
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April 29, 2015
19:50 EDTARIIAmerican Railcar enters service agreement with Icahn's ACF Industries
In a regulatory filing, American Railcar (ARII) reports that on April 27, the company entered into a repair services and support agreement with ACF Industries, a company controlled by Carl Icahn, ARI's principal beneficial stockholder through Icahn Enterprises (IEP). ARI will provide sales, administrative, and technical services; materials and purchasing support; and engineering services to ACF to provide repair and retrofit services. Additionally, ARI will provide a non-exclusive license of certain intellectual property related to the railcar services. ARI will receive 30% of the net profits of the services related to all railcars not owned by ARL or its subsidiaries and 20% of the net profits related to those railcars that are owned by ARL, but will not absorb any losses incurred by ACF. ARI has the exclusive right to sales opportunities related to the services, except for any sales opportunity presented to ACF by American Railcar Leasing, a company controlled by Icahn, with respect to ARL-owned railcars. ARI also has the right to assign any sales opportunities related to the services to ACF, but ACF is not obligated to accept. The agreement terminates on December 31, 2020. Also on April 27, ARI entered into a parts purchasing and sale agreement with ACF. ARI and ACF may purchase from and sell to each other certain parts for railcars. ARI also will provide a non-exclusive license of certain intellectual property related to the manufacture and sale of parts to ARI.
19:09 EDTARIIOn The Fly: After Hours Movers
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16:55 EDTARIIAmerican Railcar reports Q1 EPS $1.64, consensus $1.29
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April 27, 2015
14:51 EDTGBXGreenbrier trades lower on heavy volume, levels to watch
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