Reuters: Global Markets: RailAmerica in early talks on potential sale of company

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RailAmerica in early talks on potential sale of company May 23rd 2012, 01:52 Tue May 22, 2012 9:52pm EDT (Reuters) - Short-line railroad operator RailAmerica Inc (RA.N) said it is considering a potential sale of the company and has begun preliminary talks with third parties, sending its shares 11 percent higher in extended trade. It said in a statement there could not be any assurances that an agreement will be reached. The company, whose majority owner is Fortress Investment Group (FIG.N), has appointed Deutsche Bank Securities Inc as its financial adviser and to assist in its evaluation of strategic alternatives. Fortress acquired RailAmerica in 2007 and re-listed the company on the New York Stock Exchange in 2009. RailAmerica owns 45 individual railroads with about 7,500 miles of track in 28 states in the United States and three Canadian provinces. Shares of Jacksonville, Florida-based RailAmerica, which have risen 48 percent this year, rose to $24.49 in trading after the bell. They closed at $22.13 on Tuesday on the New York Stock Exchange. (Reporting by Sagarika Jaisinghani and Ranjita Ganesan in Bangalore; Editing by Sriraj Kalluvila and Edwina Gibbs)

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