G&W to buy iconic regional Providence & Worcester

[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.

[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]

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

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

P&W homepage: http://www.pwrr.com/

[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