Trinity hits high on Meyer buy
Shares of the maker of railcars, barges and tank containers hit a high of 44.87 following news it had bought Thomas & Betts' Meyer Steel Structures from ABB (ABB) for $600 mil. Power and automation tech firm ABB has been streamlining its portfolio and shedding properties that don't synergize with its core business. The all-cash deal is expected to close at the end of Q3. Trinity Industries (TRN) shares closed 0.7% higher to 22.95.
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