Icahn sets groundwork for possible business combination with Greenbrier

By Lisa Kerner

Charlotte, N.C., Feb. 4 - Carl C. Icahn affiliate ARI Longtrain Inc. acquired 1.53 million shares of Greenbrier Cos., Inc. for an initial 9.4% stake in the company.

The shares were purchased from Jan. 8 to Jan. 25 for a total of $27.9 million.

On Feb. 1, representatives of the investors expressed interest in discussing a possible business combination of Greenbrier and American Railcar Industries, Inc., the lone shareholder of ARI Longtrain.

No specific offer was made, according to a schedule 13D filing with the Securities and Exchange Commission.

Greenbrier confirmed it received the filing and said it will act in the "best interests of its shareholders and constituencies" but had no additional comments, according to the company's form 8-K filing with the SEC.

The company, based in Lake Oswego, Ore., designs, manufactures and markets railroad freight car equipment in North America and Europe.

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