(The Associated Press circulated the following on October 4.)
WASHINGTON, D.C. — Canadian Pacific Railway Ltd., Canada’s second-largest railway, said Thursday it completed its acquisition of Dakota, Minnesota & Eastern Railroad Corp. and its subsidiaries for $1.48 billion in cash.
The deal, previously announced on Sept. 4, is subject to a review and approval by the U.S. Surface Transportation Board. Shares of DM&E have been placed into an independent voting trust and private consultant Richard Hamlin has been appointed as the trustee during the review period.
Shares of Canadian Pacific Railway added 4 cents to $69.88 in late afternoon trading.