Canadian Pacific Railway acquire Dakota, Minnesota & Eastern Railroad Corp.

9/4/07

The Canadian Pacific Railway (CPR) and Dakota, Minnesota & Eastern Railroad Corp. (DM&E) announced they reached an agreement under which CPR would acquire the 2,500-mile DM&E and its subsidiaries, including the Iowa, Chicago & Eastern Railroad Corp., for U.S.$1.5 billion and future contingent payments. The acquisition is subject to U.S. Surface Transportation Board review, which could take up to 10 months.