Bid to lease Pennsylvania Turnpike dropped

10/2/2008 | Bloomberg Businessweek

Pennsylvania Transportation Partners dropped a $12.8 billion bid to lease the Pennsylvania Turnpike after inaction by the state legislature. The bid would have leased 500 miles of state highway for 75 years, but the controversial measure never garnered enough floor votes to proceed. "The deal would almost have to be too good to be true for us to hand over this taxpayer-owned asset," said a spokesman for the Pennsylvania House majority whip.

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