Private equity's quiet takeover of US short-line railroads
Let’s delve into this classic rollup thesis
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For a deal that still needs to be fully understood by most, at least financially, the latest update on the funding strategy entertained by SATS to acquire WFS, which is valued at €2.25bn, including net debt, sheds another ray of light on the outcome of this hybrid reverse merger.
Or does it?
Background
Earlier this month, the Singaporean firm reiterated in two separate investor packs that it had key “shareholder support”, saying that Temasek, with its blocking stake, believes that SATS will benefit “from an ...
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