Providence & Worcester Railroad (PWX) will resume trading at 9:00am ET
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Genesee & Wyoming Inc. Enters into Agreement to Acquire Providence and Worcester Railroad Company
August 15, 2016 8:30 AM EDTDARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYSE: GWR) announced today that it has agreed to acquire Providence and Worcester Railroad Company (P&W)(NASDAQ: PWX) for $25.00 per share, or approximately $126 million. Subject to satisfaction of customary closing conditions, the acquisition is expected to close following the receipt of P&W shareholder approval in the fourth quarter of 2016.
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Providence and Worcester Railroad Company Announces Proposed Acquisition by Genesee & Wyoming Inc.
August 15, 2016 8:30 AM EDTWORCESTER, Mass.--(BUSINESS WIRE)-- Providence and Worcester Railroad Company (NASDAQ:PWX) (the Company) announced today that on Friday, August 12, 2016, upon completion of a process to assess strategic alternatives, its Board of Directors approved, and the Company entered into, a definitive merger agreement whereby Genesee & Wyoming Inc. (NYSE:GWR) will acquire the Company for $25.00 per share of common stock, or approximately $126 million, in cash. Under the terms of the merger agreement, immediately prior to the closing all outstanding shares of preferred stock of the Company will be deemed converted into common stock of the Company in accordance... More
