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Article: CP purchase of DM&E wins STB approval.(industry outlook)(Canadian Pacific Ltd.)(Dakota, Minnesota and Eastern Railroad Corp.)(Surface Transportation Board)(Brief article)
- Article from:
- Railway Age
- Article date:
- October 1, 2008
CopyrightCOPYRIGHT 2008 Simmons-Boardman Publishing Corporation. 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)
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A new rail line to the Powder River Basin coalfields came a step closer Sept. 30 with the Surface Transportation Board's announcement that it has conditionally approved the Canadian Pacific's application to acquire the Dakota, Minnesota & Eastern Railroad and its wholly owned subsidiary, the Iowa, Chicago & Eastern Railroad Corp. Environmental issues remain to be resolved. STB's decision came 13 months after CP announced that it proposed to buy DM&E for nearly $1.5 billion in cash in a deal that could approach $2.5 billion. The board said its decision "addressed the potential environmental impacts of future coal train movements over the lines operated by CP and/or ...
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