Pioneer Railcorp to be acquired by BRX Transportation Holdings for $18.81 per share

|About: Pioneer Railcorp, Inc. (PRRR)|By:, SA News Editor

Pioneer Railcorp (OTCPK:PRRR +92.7%) had entered into a definitive merger agreement under which BRX Transportation Holdings, LLC, an entity formed by Brookhaven Rail Partners and Related Infrastructure, will acquire Pioneer for $18.81 per share in cash.

The agreement represents a premium of ~100.7% over Pioneer's closing stock price on May 16, 2019.

The transaction is expected to close in the third quarter of 2019.

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