By Lisa Kerner
Charlotte, N.C., Feb. 12 - RailAmerica, Inc. said its stockholders approved the proposed acquisition of the company by certain private equity funds managed by affiliates of Fortress Investment Group LLC.
Under the merger agreement, RailAmerica stockholders will receive $16.35 in cash, without interest. The transaction is expected to close on Feb. 14.
RailAmerica is a short line and regional rail service provider located in Boca Raton, Fla.
| Acquirer: | Fortress Investment Group LLC
|
| Target: | RailAmerica, Inc.
|
| Payment per share: | $16.36
|
| Announcement date: | Feb. 12
|
| Expected closing: | Feb. 14
|
| Stock price for target: | NYSE: RRA; $16.29 on Feb. 9
|
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