CP welcomes approval of railway takeover

CALGARY — Canadian Pacific Railway says it has received regulatory approval from the US Surface Transportation Board (STB) to acquire control of Dakota, Minnesota & Eastern Railroad Corp. and its subsidiaries.

The STB denied all requests for conditions other than those agreed to voluntarily by CPR.

"The DM&E is an excellent fit for Canadian Pacific making this a strategic end-to-end addition to our network," said Fred Green, President and CEO of CPR. "CP customers will have direct single line access to the Midwest US markets and the Kansas City gateway, which will improve fluidity to and from the Southwest US and Mexico.

He said DM&E customers will also have access to single line haul opportunities to new markets and access to
CP’s car fleets.

The DM&E, which operates about 2,500 miles of track, is the largest regional railroad in the U.S., connecting with CP at Minneapolis, Winona, MN and Chicago.