Canadian Pacific announced they will be purchasing regional Dakota, Minnesota & Eastern for $1.4 billion. Not only will this extend CP's reach into the American Midwest, but this is also a strong signal that the new owners have an eye on the Powder River Basin. Recently, the DM&E was denied a loan to help fund their $6 billion Powder River Basin project that would allow them to build a third competitive line to serve the lucrative source of Wyoming low-sulfur coal. Pending approval by the STB, the sale should close in 30-60 days. -RAILROAD.NET via various newswires
http://www.reuters.com/article/business ... 4620070905
http://www.reuters.com/article/business ... 4620070905
Last edited by Otto Vondrak on Wed Nov 07, 2007 10:34 am, edited 1 time in total.
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Moderator: New York State Railfan :: New York Central :: Toy Trains
NYW&B Fan Site :: A Magazine I Read Often :: A Museum I Volunteer At
