|
|
Article: UNION PACIFIC TO SPEND $1.1B TO ACQUIRE REST OF FREIGHT LINE DETAILS OF MERGER WITH CHICAGO AND NORTH WESTERN ARE STILL BEING WORKED ON.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- March 11, 1995
CopyrightCOPYRIGHT 1995 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: BARNAJ. FEDER New York Times
CHICAGO After decades of increasingly close ties, Union Pacific Corp. has agreed to buy the 70 percent of Chicago and North Western Transportation Co. it does not already own for $35 a share, or nearly $1.1 billion.
Union Pacific, which is based in Bethlehem, Pa., owns the nation's largest railroad with 17,800 miles of track in 19 Western states, along with oil and gas operations and Overnite Trucking.
The C&NW, based in Chicago, is the eighth-largest freight line with 5,600 miles in nine states and also operates METRA, this city's commuter-rail service.
The merger deal was struck just two ...