Genesee & Wyoming Signs Agreement to Acquire the Arizona Eastern Railway for $90.1M

Genesee & Wyoming Inc. GWR announced earlier today that it has signed an agreement to acquire the Arizona Eastern Railway from Iowa Pacific Holdings, LLC of Chicago, IL for $90.1 million in cash, subject to adjustment for final working capital. The acquisition is subject to customary closing conditions and is expected to be completed by the end of the third quarter of 2011.