(Received the following via email)
"The 'gravitational pull' of Wyoming (Powder River Basin) coal was evidently just too great, and it even reached across the northern border and 'pulled in' another big one. On one hand, this would mean that the DM&E will never expand to become the 'next Class I'. On the other, it will likely result in a new avenue deep into the Northeast for PRB coal via a single rail carrier (if the proposed DM&E coal extension is still built/upgraded). This will also probably bode well for the former D&H routes."---Nathan S. Clark, Jr.
From: CPR Communications
Sent: Wednesday, September 05, 2007 12:30 AM
Subject: Special Edition: Canadian Pacific announces agreement to acquire DM&E Railroad, Tuesday, September 04, 2007
This a very exciting time: CP has just announced an agreement to acquire the Dakota, Minnesota & Eastern, the largest regional railroad in the United States for US$1.48 billion.
On many occasions over the past several years, you have heard me comment about our ability and our intent to grow our franchise. Through the implementation of our strategy, we have consistently delivered on our operating and financial commitments. We have become a high performance organization and we are positioned to grow.
Today's announcement and the recently announced Alberta Industrial Heartland strategy both signal the evolution of our company from a high performance organization to a high performance growth-oriented organization. We are growing to expand the reach of our franchise. But we are only able to make these significant moves because of our proven ability to deliver on our financial commitments.
click the link below for the full story
Fred Green, President and CEO