Fortress Investment Group announced Tuesday that it has agreed to acquire Florida East Coast Industries for $3.5 billion, little more than a year after FECI took over the Codina Group. The takeover would wipe out a large publicly traded company with roots in Florida's pioneer days that began under the tutelage of railroad and hotel tycoon Henry Flagler. Fortress' $1.1 billion acquisition of RailAmerica in February heightened FECI's attractiveness to the fund manager, FECI's chief executive said.
May 10, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Fortress Investment Group announced Tuesday that it has agreed to acquire Florida East Coast Industries for $3.5 billion, little more than a year after FECI took over the Codina Group of Coral Gables, Fla.
The takeover would wipe out a large publicly traded company with roots in Florida’s pioneer days that began under the tutelage of railroad and hotel tycoon Henry Flagler.
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