We did it again!

Article Excerpt

GENESEE & WYOMING INC. $110 (New York symbol GWR; Manufacturing sector; Shares outstanding: 56.5 million; Market cap: $6.2 billion; Takeover Target Rating: Highest; No dividend paid; www.gwrr.com) owns and operates 120 railroads across North America, Australia, and Europe. It is now the subject of a takeover bid that promises an 18% return for investors who followed our advice. We featured Genesee in our May 31, 2019, Hotline. That’s when we said it had a special niche: Rather than compete directly with the largest North American railroads, its smaller lines link up directly with the tracks of industry giants like Union Pacific Corp., CSX, Canadian Pacific and Canadian National Railway. As well, we pointed out that the company continues to implement efficiency improvements and cost cuts to boost profits. Genesee announced in March 2019 that it was exploring strategic options, including the sale of the business. We thought that meant that it could attract a takeover offer of over $110 a share. We said that the…