Shares of Greenbrier Cos. (NYSE: GBX) are up more than 20% today after famed activist investor Carl Icahn disclosed that he had acquired a 9.5% stake in the company.
According to the 13-D filed with the SEC: "The Reporting Persons acquired their positions in their Shares in the belief that they are undervalued. On February 1, 2008, Representatives of the Reporting Persons notified the Chief Executive Officer of the Issuer that the Reporting Persons acquired the Shares and that the Reporting Persons are interested in having discussions with the Issuer about a possible business combination of the Issuer and ARI."
Mr. Icahn also owns a 53.7% stake in American Railcar Industries (NASDAQ: ARII), whose shares popped more than 17% on the news that Icahn is pushing for some sort of alliance between the two companies.
It's interesting that Icahn is not the only super-investor who sees potential in rail-related companies. Warren Buffett has also been investing heavily in the railroad industry.
For an excellent discussion of the compelling rationale behind these investments, check out this piece from Michael Brush.
Icahn buys a stake in Greenbrier
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