Greenbrier rejects $543M bid from Icahn

Dec 19, 2012 | 04:58 PM | Frank Haflich

Tags  Greenbrier, Carl Icahn, American Railcar Industries, rail cars, freight, Frank Haflich

LOS ANGELES — Greenbrier Cos. has rejected as "inadequate" a $543-million takeover bid by Carl Icahn-held American Railcar Industries Inc. (ARII), although Greenbrier indicated it would consider turning the tables on ARII and making its own acquisition of the rail car builder.

"Greenbrier has repeatedly made clear to Mr. Icahn its interest in acquiring American Railcar at a modest premium, taking into account the current valuation of American Railcar’s stock," Lake Oswego, Ore.-based Greenbrier said in turning down ARII’s offer, adding that a combination of the two rail car manufacturers could be "beneficial" to the companies and their shareholders.....

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