Private equity firms Warburg Pincus and TPG Capital are teaming up to bid for General Electric Co's (GE.N) railcar leasing business, people familiar with the matter said. Other bidders for the GE business, which has about $3 billion of assets, include private equity firms Cerberus Capital Management and Apollo Management, these people said. Dallas-based railcar manufacturer and lessor Trinity Industries Inc (TRN.N), meanwhile, is not involved in the sale process, a Trinity official told Reuters. Trinity had bid for the establishment when GE tried to sell it in 2008, sources said. The bidders have been meeting with the management of the GE leasing operation over the past few weeks after submitting initial offers in early May, these people said. Final offers are expected around June 23, they said.
General Electric Company (GE) is a technology and financial services corporation. Shares of GE traded higher by 0.16% or $0.03/share to $18.51. In the past year, the shares have traded as low as $13.75 and as high as $21.65. On average, 53431500 shares of GE exchange hands on a given day and today's volume is recorded at 52214544.
Trinity Industries, Inc. (Trinity) is a multi-industry company that owns a variety of businesses, which provide products and services to the industrial, energy, transportation, and construction sectors. Shares of TRN traded higher by 1.51% or $0.47/share to $31.64. In the past year, the shares have traded as low as $16.11 and as high as $38.15. On average, 946811 shares of TRN exchange hands on a given day and today's volume is recorded at 1123775.
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