American Railcar Industries has launched a buyout offer for Greenbrier Companies , according to an SEC filing. American Railcar, whose chairman is activist investor Carl Icahn, is offering $20 in cash per share of common stock for the rival train car manufacturer.
Icahn held slightly less than 10% of Greenbrier at the end of November. This made him the firm's top shareholder at the time.
The $20 bid represents a premium of 5% to Greenbrier's Monday closing price. The bid values Greenbrier at slightly less than $543 million.
The article American Railcar Industries in Buyout Bid for Greenbrier originally appeared on Fool.com.Eric Volkman has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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