{"id":7986,"date":"2024-02-02T12:37:56","date_gmt":"2024-02-02T02:37:56","guid":{"rendered":"https:\/\/www.vibewire.com.au\/?p=7986"},"modified":"2024-02-02T12:37:56","modified_gmt":"2024-02-02T02:37:56","slug":"cn-files-paperwork-to-acquire-iowa-northern-hopes-to-complete-deal-by-fall","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=7986","title":{"rendered":"CN Files Paperwork to Acquire Iowa Northern; Hopes to Complete Deal by Fall"},"content":{"rendered":"

By Justin Franz\u00a0<\/span><\/p>\n

Iowa Northern Railway could become part of Canadian National before fall if a timeline put forth by the Class I railroad is approved by the U.S. Surface Transportation Board. This week, CN filed paperwork with the federal regulator to consider the proposed takeover \u2014 <\/span>which was announced back in December<\/span><\/a> \u2014 as a \u201cminor\u201d transaction.\u00a0<\/span><\/p>\n

Iowa Northern operates on 218 miles of former Rock Island and Chicago Great Western trackage. The railroad was first established by a group of grain elevator operators in 1984 after Rock Island went bankrupt. The short line was then sold in 1994 to Iron Road Railways. The railroad operates a fleet of EMDs in an attractive maroon and gray paint scheme (inspired by another former Iron Road property, Canadian American). The railroad connects with CN at Waterloo, Iowa.\u00a0<\/span><\/p>\n

In its application, CN argues that customers will not be negatively impacted by the transaction and in fact, shippers will receive improved service from the Class I because it has more resources. The Class I has also vowed to maintain the railroad\u2019s existing interchange points with other railroads, including CPKC Railway, Union Pacific \u200b\u200band Cedar Rapids & Iowa City Railway.\u00a0<\/span><\/p>\n

The STB considers railroad transactions to either be \u201cmajor\u201d or \u201cminor.\u201d A major transaction (like the CPKC merger) can take years, but a minor can take just a matter of months. For example, in late 2019, CP announced plans to take over Central Maine & Quebec and by the middle of 2020, the transaction was done. CN is hoping for a similar timeline and has asked the board to make a decision on or before July 26, that would go into effect August 25.\u00a0<\/span><\/p>\n

The post CN Files Paperwork to Acquire Iowa Northern; Hopes to Complete Deal by Fall<\/a> appeared first on Railfan & Railroad Magazine<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

By Justin Franz\u00a0 Iowa Northern Railway could become part of Canadian National before fall if a timeline put forth by the Class I railroad is […]<\/p>\n","protected":false},"author":0,"featured_media":7987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[47],"tags":[11],"class_list":["post-7986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rail-news","tag-usa"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t