Platinum to Buy Marine Transportation Co

Platinum Equity has agreed to acquire American Commercial Lines (NASDAQ: ACLI), a marine transportation and manufacturing company, in a deal valued at $777 million. The firm will pay ACL shareholders $33 in cash per share of common stock, with the exception of GVI Holdings, which, with a 25% stake, is the company's largest shareholder. Platinum Equity will pay GVI $31.25 in cash per share if the deal closes before December 31, 2010. Otherwise, GVI will receive $33 per share. Debt financing for the deal is being provided by Wells Fargo Capital Finance.