>>Why did MEC sell out to US Filter?
Good price per share for the stock (somewhere in the 100 - 125 range) and sale to a company that supposedly was interested in other rail properties in New England. However, US Filter was bought less than a year later by Ashland Oil, which had no interest in railroads and was more than happy to dump the MEC (as they saw it) on Timothy Mellon's Guilford Industries, which in turn was only too happy to add it to the D&H - B&M combo.
Good price per share for the stock (somewhere in the 100 - 125 range) and sale to a company that supposedly was interested in other rail properties in New England. However, US Filter was bought less than a year later by Ashland Oil, which had no interest in railroads and was more than happy to dump the MEC (as they saw it) on Timothy Mellon's Guilford Industries, which in turn was only too happy to add it to the D&H - B&M combo.
