Seeking Alpha

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

  • 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.
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