BRIEF-Genesee & Wyoming enters into agreement to acquire Providence and Worcester Railroad Company

Mon Aug 15, 2016 8:43am EDT
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Aug 15 (Reuters) - Genesee & Wyoming Inc

* Genesee & Wyoming Inc. enters into agreement to acquire providence and worcester railroad company

* In first year of operation, g&w anticipates p&w will generate approximately $35 million of revenue and $12 million of ebitda

* Expects to fund about $126 million acquisition through revolving credit facility under which it had available capacity of $542 million

* g&w expects annual diluted eps accretion from acquisition of approximately 2%

* Deal for $126 million

* Deal for $25.00 per share

* Expects to sell land in east providence, r.i., which was developed through a $12 million investment Source text for Eikon: Further company coverage: