Against the odds: No rat traps sprung as BDP sale saga ends with PSA biting
A forwarder + forwarder combo? Nope: traditional deal-related thinking gone
Initially rumoured in March, the takeover of Genesee & Wyoming (G&W) was finally announced on Monday, valuing the target at $8.4bn, including net debt and adjusted by minorities.
Unsurprisingly, the deal received the backing of the board of G&W, as the offer by a consortium of infrastructure and logistics specialists represents almost five years of steady underlying earnings growth, assuming constant trading multiples for adjusted operating cash flows, or ebitda.
At $8.4bn the deal is not incredibly rich – based on its latest ...