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Corporate

Dec. 21, 2012

Skadden advises railroad company in negotiating with Icahn

Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates is advising the Greenbrier Companies Inc. in negotiating a hostile bid from Carl Icahn that the company called "grossly undervalued."


By David Ruiz


Daily Journal Staff Writer


One day after famed activist investor Carl Icahn - the majority shareholder in American Railcar Industries Inc. - offered to buy competitor Greenbrier Companies Inc., Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates is advising Greenbrier in an interesting counteroffer.


Instead of accepting a $20 per share bid, Greenbrier offered to buy American Railcar or to sell itself at a higher price. ...

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