Canadian Pacific Railway said it has reached an agreement to acquire Dakota, Minnesota & Eastern Railroad Corp. for $1.48 billion.
Canadian Pacific Railway said it has reached an agreement to acquire Dakota, Minnesota & Eastern Railroad Corp. for $1.48 billion. The move will expand its network by about 2,500 miles and boost its access to U.S. Midwest markets including agri-products, coal and ethanol, CP said late Tuesday. DM&E, based in Sioux Falls, SD and has approximately 1,000 employees, 2,500 miles of track, about 7,200 rail cars and 150 locomotives. It serves eight states; Illinois, Iowa, Minnesota, Missouri, Nebraska, South Dakota, Wisconsin and Wyoming with access to Chicago, Minneapolis/St. Paul, Kansas City and key ports. By Transport Topics http://www.ttnews.com _________________________