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A subsidiary of the New York-based Fortress Investment Group has won a bid for the assets of the Montreal, Maine & Atlantic Railway, according to the trade publication Atlantic Northeast Rails & Ports.
The publication reported the auction took less than 40 minutes. Fortress subsidiary Railroad Acquisitions Holdings LLC had set the stalking horse bid price of $14.25 million for the railroad's assets, though the final bid price was not immediately revealed. MM&A bankruptcy trustee Robert Keach previously told The Associated Press that the minimum bid for the railroad was $15.7 million.
The AP reported the highest bidder would not necessarily win as Keach had leeway to determine what was in the best interest of the public and creditors.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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