October 22, 2018 / 11:19 AM / a month ago

American Railcar to sell itself for $1.75 bln

Oct 22 (Reuters) - American Railcar Industries Inc is selling itself to a unit of ITE Rail Fund in a deal valued at about $1.75 billion, including debt, the company said on Monday.

The $70 per share offer represents a 51 percent premium American Railcar's last closing price.

Icahn Enterprises LP owns 62.21 percent stake in the railcar maker, according to Refinitiv data. (Reporting by Sanjana Shivdas in Bengaluru Editing by Saumyadeb Chakrabarty)

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