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Element CEO Weighs C$1 Billion in Acquisitions in 2014

Element Financial Corp. plans two purchases in 2014 totaling at least C$1 billion ($898 million) as the Canadian lessor seeks to expand its North American railcar unit and enter the U.S. for vehicle-fleet management.

One of the deals may come as soon as early next quarter, according to Chief Executive Officer Steve Hudson, who said the acquisitions would each be C$500 million or more. He said he has been looking at eight to 10 companies as possible targets.