GATX buys 18,500 railcars from GE Capital for $340M

|About: GATX Corp. (GATX)|By:, SA News Editor

GATX (GMT +1%) jumped 4% in early trade but has faded back, as the railcar lessor agrees to acquire GE Capital Rail Services' (GE -0.2%) per diem fleet of more than 18,500 boxcars for $340M.

GATX expects the acquired fleet to generate ~$70M in annual revenue, and expects the deal to be immediately accretive, although the company is not yet adjusting its previously announced 2014 earnings guidance.