Combined CN-Iowa Northern Railway

CN to Acquire Iowa Northern Railway

On December 6, 2023, CN (TSX: CNR) (NYSE: CNI) announced it has signed and closed an agreement to acquire Iowa Northern Railway (IANR), which operates in Iowa and connects to CN’s U.S. rail network. The transaction closed into an independent voting trust pending regulatory review of the transaction by the U.S. Surface Transportation Board (STB).

Read Full Press Release

Surface Transportation Board Finds Proposed Combination is a “Minor” Transaction

On February 29, 2024, the Surface Transportation Board (STB) found that CN’s proposed combination with Iowa Northern Railway Company is a “minor” transaction.

Read CN and Iowa Northern’s Joint Statement

A Combined CN-Iowa Northern Railway

  • A combined CN-Iowa Northern Railway (IANR) is good for rail customers and supply chains, for Iowa Northern employees, and for Iowa’s broader business community and economy.
  • The CN-IANR transaction will provide Iowa businesses with more efficient single-line access to a much broader rail network and markets via CN’s 18,600 miles of rail network that extends from Eastern to Western Canada and into the U.S. South.
  • Iowa rail shippers in a wide range of agricultural and industrial markets will benefit from the transaction. CN’s investment in IANR will promote resilience in important supply chains, such as food products and biofuels.
  • The transaction will enable IANR to continue providing reliable first- and last-mile service to local customers while offering new, single-line rail options to and from Iowa.
  • The transaction will create new single-line options that will be good for Iowa shippers.  Existing interline options between IANR and other rail carriers (including Union Pacific, Canadian Pacific Kansas City, and the Cedar Rapids and Iowa City Railroad) will remain available.

“We are confident that, as part of CN, IANR will be able to continue to provide reliable first and last mile service to our local customers while providing them access to a much broader network and market.”

– Daniel Sabin, Chairman at Iowa Northern Railway

“We look forward to the opportunities our combined network will provide customers, farmers, and our partners to respond to the needs of their existing and new markets.”

– Tracy Robinson, President and Chief Executive Officer at CN
still have questions?

Submit Questions

Click HERE