GREENWICH, Conn., July 1, 2019 /PRNewswire/ -- Blue Harbour
Group, L.P., the largest active owner of Genesee & Wyoming
Railroad ("GWR"), with approximately 2 million shares
representing about 4% of the Company, today commented on GWR's
agreement to be acquired by Brookfield Asset Management and
GIC for $112 in cash. Blue
Harbour began initiating its GWR position early in the second
quarter of 2018, when the stock traded at about $75 per share.
Robb A. LeMasters, a Managing
Director of Blue Harbour Group, said, "We invested in Genesee &
Wyoming because we believed its
share price did not reflect its unique combination of short-line
railroad market leadership, powerful cash generation, strong
balance sheet and experienced management team. It appeared to
us that the public market was misvaluing GWR's very strategic North
American short line operations in part because of the Company's
international businesses. The transaction announced today
unlocks the significant shareholder value that GWR's management
team has built over many years, both through acquisitions and
operational execution, as they assembled the most significant short
line railroad footprint in North
America."
"We are confident that Brookfield and GIC will be excellent partners
for GWR and we congratulate GWR's management team and Board for
entering into this transaction," Mr. LeMasters concluded.
Blue Harbour Group was formed by Clifton
S. Robbins in 2004 to pursue an Active Ownership
investment strategy by acting as a lead minority
shareholder primarily in U.S. publicly traded companies, and
working collaboratively with managements and boards to identify
initiatives to create and unlock shareholder value. In
2016 the firm developed a framework and process to fully
integrate Environmental, Social, and Governance (ESG)
considerations into all investment decisions and
engagements. Blue Harbour manages capital on behalf of
pension funds, endowments, foundations and other institutional
investors.
CONTACT:
Adam Weiner
Kekst CNC
Adam.Weiner@kekstcnc.com
(212) 521-4823
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content:http://www.prnewswire.com/news-releases/blue-harbour-group-comments-on-genesee--wyoming-railroads-agreement-to-be-acquired-by-brookfield-asset-management-and-gic-300878463.html
SOURCE Blue Harbour Group, L.P.