G&W to buy iconic regional Providence & Worcester

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JStryker722
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G&W to buy iconic regional Providence & Worcester

Unread post by JStryker722 »

According to Trains Magazine,the deal if approved by the STB,will happen in the 4q of 2016 at the tune of $126 million with G&W buying all outstanding P&W shares for $25 a share.

While Im not against it,it WOULD be nice to see it remain independent since nearly all other track in New Englad not owned by a Class 1 is owned by some kind of colgomate like G&W,Pan Am,and now Fortress. Seems like rail competition would be affected by this transcation.The other thing I foresee now is the proposed commuter service between Providence and Worcester mentioned in a earlier recent Trains article not happening now.
My Wife says my first love is trains..anint that the truth! Lol :D

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trainjunkie47
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Re: G&W to buy iconic regional Providence & Worcester

Unread post by trainjunkie47 »

Wall Street seems to have approved of the move so far. G&W stock went up Monday more than 4%, and has essentially held steady the last two days.

Robertrains
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Re: G&W to buy iconic regional Providence & Worcester

Unread post by Robertrains »

Yes, P&W is going to purchased by :evil: G&W!!!! :evil: Man, enough shortlines and/or regional railroads are no longer "Independent!!!!" :cry: Here's a railroad I have never seen!!!! :cry:

News: http://www.wbjournal.com/article/201608 ... 19967/1036

P&W homepage: http://www.pwrr.com/
Robert Jackson (Extreme Railfan/Bluewater and Michigan Transit Museum member)

http://cooltrains.rrpicturearchives.net/

kwh
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Re: G&W to buy iconic regional Providence & Worcester

Unread post by kwh »

Great little railroad as I used to live close by their main before moving to Ohio. well maintained locomotives and a very nice paint scheme. They also ran excursions to the Zoo and other themed events. Hope they don't lose that!

Keith

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