Federal Board OKs CN Purchase of Iowa Northern Railway

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The U.S. Surface Transportation Board on Jan. 14 issued a decision approving, with conditions and some misgivings, Canadian National Railway Co.’s request to acquire and operate Waterloo-based Iowa Northern Railway Co.’s 218-mile rail system, part of which runs through North Iowa.

The decision will be effective Feb. 13.

The majority found that the proposed transaction has potential anticompetitive impacts, but that those impacts may be sufficiently mitigated through targeted conditions, according to a press release from the board. …