STB sets schedule for review of CP Railway’s purchase of DM&E

STB sets schedule for review of CP RailwayÆs purchase of DM&E The Surface Transportation Board has accepted Canadian Pacific
Railway’s application to acquire the Dakota, Minnesota & Eastern Railroad Corp. and has scheduled a review of the proposed deal.
   In September, CP Railway said it had reached agreement to acquire DM&E for $1.48 billion. It noted that the DM&E was attractive because it would extend CP's reach into the U.S. Midwest. It said the acquisition would lead to growth in the transport of agricultural products, ethanol, and coal, noting DM&E's strategy to become the third rail carrier in Wyoming's coal-rich Powder River Basin.
   The STB said the procedural schedule includes a requirement for parties to participate in filing notices on Jan. 25, and the issuance of a final decision on Sept. 30, 2008, to become effective one month later, on Oct. 30, 2008.
   The full procedural schedule can be found at: https://www.stb.dot.gov/__85256593004F576F.nsf/0/A60D7B6BD51F9663852573BE007298C5?OpenDocument