– Norfolk Southern Corporation (NYSE:NSC) finalized a $214.5 million acquisition of the Delaware & Hudson line on Friday, a transaction company executives believe will boost options for rail carriers and create hundreds of jobs in the Northeast. With the acquisition, Norfolk Southern gains control of a line between Sunbury, Pennsylvania and Schenectady, New York that covers more than 280 miles of railway. The lines provide the company with single-line routes from Chicago and the southeastern U.S. to Albany, New York, as well as intermodal terminals in Scranton and Mechanicville, New York. The deal was proposed in late 2014 and was approved by the Surface Transportation Board in mid-May. At the time, the board ruled that the acquisition of the lines did not cause “substantial lessening of competition or create a monopoly or restoration of trade.” Delaware & Hudson is a subsidiary of Canadian Pacific Railway Limited (NYSE:CP). “The D&H South Line integrates perfectly into our 22-state rail system, and it allows Norfolk Southern to connect businesses along this important economic corridor with a rail transportation system that’s a top performer in safety and efficiency,” Norfolk Southern president and CEO James Squires said in a statement. “Our acquisition will make NS a more competitive transportation option between Pennsylvania, New York, and New England.” The D&H South line sale includes all branch lines and industrial spurs that connect to the Sunbury-Schenectady main line, along with equipment, vehicles and parts, Canadian Pacific said in a statement. Approximately 45,000 Canadian Pacific carloads and shipping containers move across the border annually, including consumer goods, salt, grain and forest products. “We are pleased to have completed this transaction in partnership with Norfolk Southern,” Canadian Pacific Chief Operating Officer Keith Creel said in a statement. “The sale allows CP to create value for our shareholders while better aligning the route with the railroad that already moves the majority of traffic over it.” Shares in Norfolk Southern fell 2.16 or 2.66% to 78.95 on Friday, while shares in Canadian Pacific lost 2.27 or 1.52% to 147.06.