Canadian Pacific finalizes US portion of Atlantic Canada short line

Canadian Pacific (NYSE: CP) has been given the green light to own the portion of the Central Maine & Quebec (CMQ) Railway operating in the U.S.

The Surface Transportation Board approved CP’s acquisition of CMQ US on May 4. It became effective on Wednesday, June 3.

CMQ will act as a subsidiary of CP. The acquisition of CMQ’s Canadian operations was finalized on December 30, 2019.

CP has said the acquisition of the U.S. and Canadian operations of the short line railroad would boost CP’s reach...