January 2, 2013

Canadian National Railway completes merger of EJ&E into WC subsidiary

Canadian National Railway (CN) has completed the merger of the Elgin, Joliet and Eastern Railway (EJ&E) into its Wisconsin Central (WC) subsidiary.

By admin-demo

Canadian National Railway (CN) has completed the merger of the Elgin, Joliet and Eastern Railway (EJ&E) into its Wisconsin Central (WC) subsidiary.

Free Report

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:

Macroeconomic and demographic environment
Consumer context
Industry environment
Competitive environment
Route to market

Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.

by GlobalData

Enter your details here to receive your free Report.

By clicking the Download Free Report button, you accept the terms and conditions and acknowledge that your data will be used as described in the GlobalData privacy policy By downloading this Report, you acknowledge that we may share your information with our white paper partners/sponsors who may contact you directly with information on their products and services.

Visit our privacy policy for more information about our services, how we may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The merger of the two rail affiliates, which connect in Chicago, will streamline CN’s corporate structure and operations in the US, according to the company.

CN senior vice-president of southern region Jim Vena said the merger is expected to lead to operational efficiencies and service improvements.

"These merged railroads will continue all the existing operations of WC and EJ&E in the Chicago Terminal with a unified workforce, which will permit better management of crew staffing and more efficient and reliable rail service to customers throughout the region," Vena said.

The deal was certified through a notice of exemption for transactions filed with the US Surface Transportation Board (STB) in 2012.

The merger was completed following voluntary implementation agreements with the various unions involved.

EJ&E operates in the Chicago area, while the WC railway operates on a line from Superior to Chicago, with branch lines throughout Wisconsin.

CN said the merger will not affect STB’s oversight and reserved jurisdiction over its acquisition of EJ&E in 2009, the mitigation conditions imposed by the STB, or the Voluntary Mitigation Agreements reached by the company and several communities along the EJ&E arc.

Image: A freight locomotive on the EJ&E in Illinois in August 2008. Credit: PeaceFrog70