Brookfield, GIC to buy freight rail operator Genesee & Wyoming for $6.4b

Brookfield, GIC to buy freight rail operator Genesee & Wyoming for $6.4b

Photo: Genesee & Wyoming website

Canada’s Brookfield Asset Management Inc and Singaporean sovereign wealth fund GIC on Monday agreed to buy U.S. freight railroad owner Genesee & Wyoming Inc for about $6.4 billion in cash.

Brookfield and GIC’s offer of $112 per share represents a premium of 12 percent to Genesee’s closing price on Friday. Genesee shares were up about 8 percent in trading before the bell.

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