RaiLink accepts takeover offer from RailAmerica
EDMONTON (May 18) — RaiLink Ltd., Canada’s third-largest railway, has accepted a takeover offer from RailAmerica Inc. for $73.2 million, or $8.75 a share in cash
Edmonton-based RaiLink, a short-line operator which provides freight services through its own track network, has been for sale since March 10. The company and its 26.3% owned affiliate, Quebec Railway Corp., operate 11 regional railways covering approximately 2500 miles of track in Alberta, the Northwest Territories, Ontario, Quebec and New Brunswick.
The deal would increase RailAmerica’s network to more than 3700 miles of railroads in North America. In addition to its rail interests, RailAmerica Inc. owns Kalyn/Siebert, Inc., a specialty truck-trailer manufacturer with production facilities in Gatesville, Tex., and Trois-Rivieres, Que.
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