CN reaches deal with Ind. town on impact of EJ&E buy
Dec 15, 2008 | 11:30 AM
| Scott Robertson
Canadian National Railway Co. (CN) has reached an agreement with the town of Schererville, Ind., about 30 miles southeast of Chicago, to mitigate the impact on the community of CN's proposed acquisition of the Elgin, Joliet & Eastern Railway Co. (EJ&E).
CN and U.S. Steel Corp., Pittsburgh, announced Sept. 26, 2007, they had reached an agreement under which CN would acquire most of the EJ&E railroad for $300 million, subject to approval of the deal by the U.S. Surface Transportation Board. The STB currently is reviewing the transaction and is urging CN and surrounding communities to reach mitigation agreements.....
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