Canadian Pacific

10:27 AM EST - Canadian Pacific : And OMERS, the defined benefit pension plan for municipal employees in the province of Ontario , announced today they have entered into a purchase agreement whereby CP will acquire full ownership of the Detroit River Rail Tunnel from certain affiliates of OMERS. The purchase price for the transaction is approximately $312 million U.S. subject to customary closing adjustments. CP previously owned a 16.5% stake of the tunnel in partnership with OMERS. The 2.6-kilometre tunnel linking Windsor and Detroit will continue to be operated by CP. The acquisition of the tunnel will reduce CP's operating costs related to movements through the tunnel. Canadian Pacific shares T.CP are trading up $1.82 at $431.57.