Interesting reporting on how the buy out actually took place. Started early in the year.
http://www.telegram.com/news/20160911/turns-out-pampw-created-bidding-war-for-its-sale
Fascinating tale of what happened BEFORE the final hammer fell.
It just goes to illustrate the HOW of what on the surface appeared to be a story of a larger fish,[dinner] making a meal out of a smaller fish[C=:-)]
… Seems in this case the smaller fish got its licks in before the battle was over. [:-^]
Now wonder who A<B<C<D are ? ?
P&W’s Board of Directors had a fiduciary duty to P&W’s stockholders to maximize the return to those stockholders. Sounds like they did a great job.
Given P&W’s strategic access to the ports of Providence and Quonset, RI, the latter including an important automotive import/export facilty, I imagine both CSX and Norfolk Southern were interested. CSX does quite a bit of interchange with P&W and NS operates Ethanol trains to Providence jointly with the carrier.