Milwaukee Road will be sold to Soo Line Railroad
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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.
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