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Big takeover for freight railroad operator Genesee & Wyoming

Train with cash coming out of it.
Illustration: Aïda Amer/Axios

Connecticut-based freight railroad operator Genesee & Wyoming on Monday announced that it will be taken private by Canadian investor Brookfield Infrastructure and Singapore sovereign wealth fund GIC, for $8.4 billion (including assumed debt).

Why it matters: This represents more than a 50% premium to where Genesee & Wyoming shares began 2019, reflecting how railroads have been winning back market share from trucking companies.