December 31, 2009 (FinancialWire) — Trinity Industries, Inc. (NYSE: TRN) and Quixote Corp. (NASDAQ: QUIX) say they have reached a definitive agreement for Trinity to acquire the outstanding common shares and equivalents of Quixote for cash of $6.38 per share, or approximately $61 million.

Dallas-based Trinity said it will fund the acquisition from available cash on hand, which totaled $545 million at September 30, 2009.

Quixote, through its subsidiaries, is a developer and manufacturer of highway products designed to protect and direct motorists. Quixote will be combined with Trinity’s Construction Products businesses.

The acquisition will be accomplished through a tender offer for Quixote’s common shares by a wholly-owned subsidiary of Trinity, THP Merger Co., and is scheduled to close in the first quarter of 2010.

Trinity Industries is a multi-industry company that owns a variety of businesses, which provide products and services to the industrial, energy, transportation, and construction sectors.

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