“(Reuters) – American Railcar Industries Inc , controlled by activist investor Carl Icahn, offered to buy rival railcar maker Greenbrier Cos Inc for about $543 million, reviving a nearly five-year old plan to combine the companies.
American Railcar’s offer of $20 per share represents a premium of 5.4 percent to Greenbrier’s closing price on Monday.
Greenbrier’s shares have risen 36 percent since Icahn reported a 9.99 percent stake in the company last month that made him its largest shareholder.
Icahn proposed a possible merger of Greenbrier and American Railcar in 2008, but later said a combination was not possible due to “unresolved issues”. (http://r.reuters.com/pud93t)
Greenbrier, which like American Railcar makes, repairs and refurbishes railroad freight cars, could not immediately be reached for comment outside of regular business hours.
Icahn Enterprises LP , which controls Icahn’s stake in American Railcar, said in a regulatory filing on Tuesday that the offer followed talks with Greenbrier. (http://link.reuters.com/ceg74t) “
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