American Railcar Industries has launched a buyout offer for Greenbrier Companies , according to an SEC filing. American Railcar, whose chairman is activist investor Carl Icahn, is offering $20 in cash per share of common stock for the rival train car manufacturer.
Icahn held slightly less than 10% of Greenbrier at the end of November. This made him the firm's top shareholder at the time.
The $20 bid represents a premium of 5% to Greenbrier's Monday closing price. The bid values Greenbrier at slightly less than $543 million.
The article American Railcar Industries in Buyout Bid for Greenbrier originally appeared on Fool.com.
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