DM&E Railroad Acquiring I&M Rail Link

摘要

Kevin V. Schieffer, president of the Dakota, Minnesota & Eastern Railroad Corp. (DM&E) announced a major rail acquisition involving the 1100-mile DM&E and the assets of the 1700-mile I&M Rail Link LLC (IMRL). Under an asset purchase agreement approved unanimously by both companies' boards, all of the rail lines, rolling stock, and substantially all of the other assets of IMRL will be acquired by the Iowa, Chicago & Eastern Railroad Corp. (IC&E). DM&E and IC&E will ultimately come under the common management of Cedar American Rail Holdings Inc. cedar American holds 100 percent of the IC&E stock, and is a wholly owned subsidiary of DM&E.