ICAHN TO ACQUIRE STAKE IN TRINITY INDUSTRIES
Carl Icahn, the billionaire financier, said Tuesday in New York that he planned to buy a substantial amount of shares in Trinity Industries, a maker of railcars and boxcars.
Trinity, based in Dallas, reported it had received notice from Icahn of his intention to buy “more than $15 million, but less than 10 percent” of Trinity’s 37.41 million outstanding shares.
Timothy Wallace, Trinity’s chairman and chief executive, said the company believed its stock was undervalued due to “the cyclical situation” in the rail supply industry, and noted that Trinity planned to buy back its stock when it could.
