Providence and Worcester Railroad Co. shareholders approve proposed acquisition by Genesee & Wyoming Inc.

THE PROVIDENCE & WORCESTER RAIL CO. will be acquired by Genesee & Wyoming Inc., of Darien, Conn., for approximately $126 million. / COURTESY PROVIDENCE & WORCESTER RAIL CO.
THE PROVIDENCE & WORCESTER RAIL CO. will be acquired by Genesee & Wyoming Inc., of Darien, Conn., for approximately $126 million. / COURTESY PROVIDENCE & WORCESTER RAIL CO.

WORCESTER, Mass. – The proposed acquisition of Providence and Worcester Railroad Co. by Genesee & Wyoming Inc. was approved by PWRR shareholders this week.
“We are very grateful to our shareholders for their overwhelming support of this transaction. With today’s vote, we move one step closer to completing the transaction with Genesee & Wyoming, to the benefit of our shareholders, employees, customers and the communities we serve,” Robert H. Eder, board chairman and CEO of PWRR, said following the special meeting of PWRR shareholders.
The merger is scheduled to close on or around Nov. 1, subject to remaining closing conditions.
Genesee & Wyoming Inc., based in Darien, Conn., previously said it agreed to acquire Providence and Worcester Railroad Co. for approximately $126 million, or $25 per share.

PWRR, a regional freight railroad operating in Massachusetts, Rhode Island, Connecticut and New York, is the only interstate freight carrier serving the state of Rhode Island. It also possesses “the exclusive and perpetual right” to conduct freight operations over the National Railroad Passenger Corporation’s (Amtrak) Northeast Corridor between New Haven, Conn., and the Massachusetts/Rhode Island border, according to a news release from the railroad.

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