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Union Pacific transfers land in Colorado
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OMAHA, Neb. - Railroad operator Union Pacific Corp. said Tuesday it has completed a $118 million land transfer to the Regional Transportation District in Colorado.
The agreement involves Union Pacific's entire Boulder Industrial Lead, from Brighton Boulevard in Commerce City to Boulder, a distance of roughly 33 miles.
Union Pacific has reserved a rail easement to continue serving its freight customers on the first 8 miles.
The company said it will book a pretax gain of about $115 million in the second quarter on the transaction.
Shares fell 62 cents to close at $52.06.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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