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Icahn ends discussions with Greenbrier Cos.

By Associated Press
June 11, 2008 | Comments (0)

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Billionaire investor Carl Icahn has ended discussions with Oregon railcar manufacturer Greenbrier Cos. regarding a possible business combination with American Railcar Industries Inc., according to a regulatory filing Wednesday.

The parties have ended the discussions as a result of certain "unresolved issues," the filing said.

In February, Icahn reported a 9.5 percent stake in Greenbrier and said he believed the shares were undervalued. Icahn acquired the stake through ARI Longtrain Inc., whose sole stockholder is American Railcar, which manufactures and services railcars. Icahn then beneficially owned 53.7 percent of the common stock of American Railcar.

At that time, Icahn expressed interest in discussing a possible business combination between American Railcar and Greenbrier.

Greenbrier shares fell $1.16, or 4.8 percent, to close at $23.09. Shares continued to fall in aftermarket trading, dropping 59 cents, or 2.6 percent, to $22.50.

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