American Railcar Industries To Merge With ITE Rail Fund Subsidiary - Quick Facts

(RTTNews) - American Railcar Industries, Inc. (ARII) announced a definitive agreement to merge with a wholly-owned subsidiary of ITE Rail Fund L.P., managed by ITE Management L.P., at a price of $70.00 per share. The transaction is valued at approximately $1.75 billion (including ARI's net indebtedness).

ITE Management, an affiliate of ITE Rail Fund L.P., is an investment firm targeting industrial and transportation assets and companies, and related industries and services with a critical focus on investments that generate current cash.

The transaction is expected to close in the fourth quarter of 2018. The company noted that the transaction is not subject to any further due diligence or any financing conditions.