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Genesee & Wyoming Industries purchased the Providence & Worcester Railroad for $125 million. At $25 per share, they paid 53% more than P&W's closing price on Friday. I wonder if that's going to be the curtain call for Guilford Transportation/Pan Am Railways. I see Norfolk Southern taking them over eventually. GWI will probably have the most trackage in the New England Market.
http://www.wsj.com/articles/genesee-wyom...1471266714
Mike Kieran
Port Able Lines
" If the world were perfect, it wouldn't be " - Yogi Berra.
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That's been the trend for a century or more - more successful lines buying up smaller less successful ones. It's the only way to make a go of things in this crippled economy.
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G&W has a humble beginning as a 14 mile rock salt hauler and is still hauling salt.
G&W now owns 114 short lines and operates in 41 states,4 Canadian Provinces and has rail operation in Australia and UK/Europe.
For those that may not know GWI also bought Rail America and the Ohio Central Systems.
I would not be surprise if GWI buys Guilford Transportation/Pan Am Railways.
I seriously doubt if NS has a hankering to enter the short line business that's why NS and CSX decided on CSAO as their local service operator in some areas.
Larry
Engineman
Summerset Ry
Make Safety your first thought, Not your last! Safety First!
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They may want to own Guilford/Pan Am before Genesee & Wyoming buys them.
Mike Kieran
Port Able Lines
" If the world were perfect, it wouldn't be " - Yogi Berra.
