DM&E sale may be imminent

Here's something interesting for those in the Midwest. Trains magazine is reporting that the Dakota, Minnesota and Eastern Railroad may be sold by Cedar American Rail Holdings, its current parent company, to raise the funds needed for its Powder River Basin extension. The short list, according to Trains, is now narrowed down to three likely bidders: CN, CP and an undisclosed shortline operator (ed. could this be RailAmerica or maybe Railroad Development Corporation [current owners of Iowa Interstate]?). The bidders have until the end of the week to respond, so we should know more about this transaction next week. The Associated Press has picked up this story now, so check your sources when you look into this one.