Genesee & Wyoming continues to navigate lethargic shipment demand for several commodities.
Genesee & Wyoming agreed to buy short-line railroad, Providence and Worcester (P&W), for $126 million in cash. Considering immediate cost synergies, we calculate the deal implies an EV/EBITDA multiple near 10 times. Including management's expected longer-term synergies and commercial growth opportunities, it's closer to 7 times, which we consider reasonable. This is a relatively small deal for G&W, and running the preliminary numbers through our model, we don’t expect it to have a ma...Genesee & Wyoming owns or leases freight railroads worldwide. The company has three segments: North American Operations, which includes several regions that serve U.S. states and Canadian provinces and includes short line and regional freight railroads; Australian Operations, which serves New South Wales, the Northern Territory and South Australia and operates the Tarcoola-to-Darwin rail line; and U.K./European Operations, which is led by Freightliner Group Limited, a rail maritime intermodal operator and rail freight provider, as well as regional rail services in Continental Europe.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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