Milwaukee Road will be sold to Soo Line Railroad
A judge in Chicago approved the sale of the 3,100-mile bankrupt railroad to Soo Line, whose $570-million bid was the lower of two offers. U.S. District Judge Thomas McMillen said he based his opinion on what is best for the public interest, indicating that a sale to Chicago & North Western Transportation Co.--which bid $210 million more--would have reduced competition on many routes. Dan Murray, attorney for Chicago Milwaukee Corp., Milwaukee Road’s parent company, said he planned to appeal.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
