Genesee & Wyoming (GWR) to Acquire Providence and Worcester Railroad (PWX) in $126M Deal

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Genesee & Wyoming Inc. Enters into Agreement to Acquire Providence and Worcester Railroad Company

August 15, 2016 8:30 AM EDT

DARIEN, 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 EDT

WORCESTER, 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

Genesee & Wyoming Reports Traffic for July 2016

August 11, 2016 5:00 PM EDT

DARIEN, Conn.--(BUSINESS WIRE)-- Genesee & Wyoming Inc. (G&W) (NYSE: GWR) today reported traffic volumes for July 2016.

G&Ws traffic in July 2016 was 242,950 carloads, a decrease of 22,451 carloads, or 8.5%, compared with July 2015.

The table below sets forth summary total carloads by segment for July 2016 and July 2015.

                                Segment July 2016 July 2015 Change % Change North American Operations 131,140 139,335 (8,195) (5.9%) Australian Operations 15,099 17,508 (2,409)... More