Bascome Majors

Brendan Michael McCarthy

Justin Bergner

Andrzej Tomczyk

Andrzej Tomczuk

- GATX Corporation entered into a definitive agreement on **May 29, 2025**, to acquire approximately **105,000 railcars** and **223 locomotives** from Wells Fargo for **$4.4 billion**.  **[40211_0000040211-25-000097_gatxunauditedproformacombi.htm:1]** **[40211_0000040211-25-000097_gatx-20251015.htm:1]**  This transaction involves a newly formed joint venture (GABX) with Brookfield, where GATX will initially hold a **30%** ownership share and serve as manager of the railcars.  **[40211_0000040211-25-000097_gatxunauditedproformacombi.htm:1]** **[40211_0000040211-25-000097_gatx-20251015.htm:1]** 
- The transaction has received several regulatory clearances, including from the European Commission in **August 2025**, the Hart-Scott-Rodino Antitrust Improvements Act waiting period expiring on **September 16, 2025**, and the Canadian Competition Act waiting period expiring on **September 24, 2025**.  **[40211_0000040211-25-000097_gatxunauditedproformacombi.htm:1]** **[40211_0000040211-25-000097_gatx-20251015.htm:1]**  The closing is anticipated in the **first quarter of 2026 or sooner**, pending additional regulatory approvals.  **[40211_0000040211-25-000097_gatxunauditedproformacombi.htm:1]** **[40211_0000040211-25-000097_gatx-20251015.htm:1]** 
- Pro forma combined financial statements, reflecting the acquisition, show GATX's total assets increasing to **$17,303.6 million** as of **June 30, 2025**, from GATX's historical **$13,200.2 million**.  **[40211_0000040211-25-000097_gatxunauditedproformacombi.htm:4]** 
- For the six months ended **June 30, 2025**, Wells Fargo Rail, the carve-out business being acquired, reported a **net loss of $(58.0) million**, primarily due to a **$104.2 million goodwill impairment charge** recognized in the first six months of 2025.  **[40211_0000040211-25-000097_ex-992railcarvexout06302.htm:6]** **[40211_0000040211-25-000097_ex-992railcarvexout06302.htm:13]** **[40211_0000040211-25-000097_ex-992railcarvexout06302.htm:35]**

GATX (GATX)