While browsing the Web site of the Rochester (MN) Post-Bulletin, I saw a headline and introductory paragraph telling about the Dakota, Minnesota & Eastern’s possible interest in acquiring or merging with I & M Rail Link. The story appeared to be an Associate Press posting from May 5, 2001. I was unable to access more as the P-B site is one that allows the reading of entire stories only to subscribers. Does anyone out there have the entire text of this story or can summarize what it said?
I just made a quick check of the I&M Rail Link web site and there is no mention of the story you saw. I follow the I&M because the Iowa Div. passes through town. Judgeing the size of the two railroads, it would seem to be unlikely that such a sale would be benificial to each. The I&M is doing quite well on their own, thank-you very much. Now having said this, anything can happen. Will keep my eyes and ears to the rails for any news.
Haven’t heard anything about possible buyers but I have seen a couple of articles indicating that I&M Rail Link is on the market. NS may have an interest as they run a couple of direct auto trains down this line.
I&M Rail Link is definitiely in play, however DM&E is not the only suitor.
i work for UP into kansas city, and rumors have been going round for more than a year that UP was going to buy imrl(as we call it). reason? UP runs several stack trains a day over this line, not so many right now, but it has been as high as 4 a day each way. this would allow them to get off the santa fe between chicago and kc. don’t know if there is any truth to this rumor, also a rumor that UP owns a share of imrl anyway so it wouldn’t be a big step to take it over. any comments from anyone else?
I was reading in a trains magazine and Union Pacific Railroad Was Thinking of Purchasing Imrl. Its not a done deal by a long shot
Reportedly, IMRL is bankrupt. Doing well in what sense?
DM&E bid on the I&M and according to former C&NW co-workers who now work for the D&ME, the railroad will hear the results of their offer sometime around the first of the year. Apparently three other railroads are major stockholders in the I&M and they all have to agree on a sale.
The DM&E’s plan for the I&M is wrapped up in their coal line expansion. Right now, they would have to give the traffic to barges or CP in Winona. If they get the I&M, or at least part of it, they would have a straight shot into the major gateways.
Yup - Just saw it announced in today’s newspapers. Can anyone tell me exactly which lines make up the IMRL? Is it all ex-Milwaukee Road or are there other bits and pieces of other lines, like the Rock Island, involved as well?
Tom Edwards
It’s all ex-MILW. CP spun it off from Soo Line’s acquisition of the bankrupt MILW.
Well Terry, you were right! Bill Stephens just posted the fact that DM&E will purchase the I&M Rail Link for $150 million. This will give DM&E an opportunity to move all that Powder River Basin coal via Owatonna and the IMRL, so hopefully the Mayo Clinic will go back to trying to cure illness and stop trying to wreck the DM&E!
An article in the business section of the Chicago Tribune on Friday told us that the DM&E has agreed to buy I&M Rail Link and that it is a done deal.
Tom:
As Gregg said, the I&M Rail Link is ex-Milw. It includes a line from Marquette Iowa on the Mississippi west through Mason City to Sheldon, Iowa. A line goes north out of Mason City through Austin, Owatonna and Fairbault, Minn., so in theory it could, with agreements reach the Twin Cities that way. It does get to Piggys Eye yard in St. Paul on Soo/CP trackage rights from LaCrescent, Minn. up the river line through Winona and Red Wing. There is also a line west from Ramsey (north of Austin through Wells to Jackson, Minn.
The main line south of LaCrescent goes through Marquette, Sabula, (with a bridge to Savannah and on to the Chicago area - I think it has trackage rights to actually get into Chicago) Dubuque and Quad Cities (it is headquartered at Davenport, I believe). Then the line cuts southwest through Ottumwa on its way to Kansas City through Paoli, Mo. Hope this helps. This is why the DM&E wants it — access to the Twin Cities, Chicago and Kansas City, as well as the river ports for both coal and grain. This could make a fairly strong regional rail player in the heartland — making taking the place of Wisconsin Central as the top regional success story.
T
Man, you talk about a story with legs…4+ years, and counting [:)]
One thing about this,[ as alluded to above]. If the opperating plant [Tracks, etc] is in any kind of shape currently, or could be up graded quickly, there would, or could, be a major impact on traffic pattern dynamics in that whole area of the country. It would certainly add some spice to railfanning in the upper middle west.
Maybe I missed something[%-)] I thought the IC&E bought IMRL a few years ago.
IC&E has a common ownership with DM&E
I am confused.
ed
It’s an old thread that I bumped because I thought it was interesting that the DME/Mayo clinic conflict has been stewing on this board for years, with almost zero progress