May 23, 2019 / 8:23 PM / 7 months ago

BUZZ-Genesee & Wyoming: Surges on Bloomberg report that Blackstone, Brookfield among co's bidders

** Shares of railroad co closed up 9.2%, biggest one-day percentage gain in over 10-years, after Bloomberg reports that Brookfield Asset Management and Blackstone are among bidders for co

** GWR had surged 11.3% to over 4-year high at $95.80 in regular trade on the report

** Co is seeking at least $110 per share, or about $6.2 bln, according to a Bloomberg report

** Stonepeak Infrastructure Partners and EQT Partners have also progressed into next round of bidding, according to Bloomberg

** GWR closed up 9.2%, biggest one-day percentage gain in over 10-years

** Bloomberg reported on March 11 that co was exploring strategic options, including the sale of all or part of itself

** Shares of railroad cos Kansas City Southern, Norfolk Southern Corp, and U.S.-listed shares of Canadian Pacific and Canadian National Railway Co pared losses in regular trade on the report

** GWR was only co trading up over 0.5% on the S&P 400 Industrials index

** GWR median PT of $87 from 13 analysts is up $2 from Feb median.

** GWR was down ~0.7% before report; as of Wednesday’s close, stock had risen 7.2% since March 11 (Reporting by Nishara Karuvalli Pathikkal)

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