(Reuters circulated the following article on November 15.)
NEW YORK — RailAmerica Inc., the largest short-line railroad operator, said on Wednesday that it agreed to be bought by investment firm Fortress Investment Group LLC for $16.35 per share.
That is a 32 percent premium to the company’s most recent trading price of $12.38 on the New York Stock Exchange.
Including debt, the deal is worth about $1.1 billion, the company said.
Fortress, which has private equity funds, hedge funds and alternative investment funds, has filed for an initial public offering.