Hi all. Would any of you know if CN has a serious intrest in the Cedar American Rail holdings( IC&E and DME)? Have heard a lot of roundhouse rumors saying that CN wants to buy them. As we all know CN when they want something they usually go out and get it.
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Is CN looking to assimilate the DM&E and IC&E?
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Yeah I know a guy who works for CN in Canada and he said this rumor has been going around for months.
route_rock wrote:Hi all. Would any of you know if CN has a serious intrest in the Cedar American Rail holdings( IC&E and DME)? Have heard a lot of roundhouse rumors saying that CN wants to buy them. As we all know CN when they want something they usually go out and get it.I have heard that canadian pacific has bought the ice part of DME, expecting announcement next week.
If that's true, I guess it's CP trying to grow to make them less of a take-over target (extra debt, too).
Mike
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How ironic is it that CP would want to buy back track that they sold before under SOO Line?
Whether the CN buys up the Dakota, Minnesota & Eastern (they can certainly finance the push to the Powder River Basin coal mines) or CP regains the Corn Lines, time will tell. As for CP taking back the IC&E (IMRL), there may be some irony there, but it's not unheard of for a railroad to buy back a line they've previously sold.
Ken V. Moderator: Most things Canadian.
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Transactions like these are not kept secret. There are all sorts of public government filings that take place prior to a sale or acquisition. So until you hear it announced, there is no truth to the rumors.
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Ken V wrote: ↑Thu Aug 16, 2007 12:46 am Whether the CN buys up the Dakota, Minnesota & Eastern (they can certainly finance the push to the Powder River Basin coal mines) or CP regains the Corn Lines, time will tell. As for CP taking back the IC&E (IMRL), there may be some irony there, but it's not unheard of for a railroad to buy back a line they've previously sold.Is it ironical CP did buy back the IC&E and the former MILW line -> KC is their sole connection to acquiring KCS?