posted on July 24, 2012 16:16
The two largest short-line rail road operators in North America will soon be one. Genesee and Wyoming Incorporated announced Tuesday that the company will purchase RailAmerica.
The new company will operate railroads in Genesee, Wyoming, Livingston and Monroe counties as part of an entity that includes 108 railroads in the U.S. and beyond.
Genesee & Wyoming Inc. will purchase RailAmerica for an estimated $1.4 billion.
The deal still needs approval by the Surface Transportation Board, which is an agency that regulates U.S. railroads.
The Genesee & Wyoming railroad started in 1899 as a 14-mile railroad in the Rochester area. The expansion will give it more than 12-thousand track miles in North America, as well as operations in Australia, the Netherlands and Belgium.