The Canadian National Railway Company (CN) and United States Steel Corporation (NYSE) announced an agreement

9/26/07

The Canadian National Railway Company (CN) and United States Steel Corporation (NYSE) announced an agreement under which CN will acquire the major portion of the Elgin, Joliet and Eastern Railway Company (EJ&E) for US$300 million. The acquisition is subject to regulatory review by the U.S. Surface Transportation Board (STB). EJ&E, a Class II railroad, operates over 198 main line miles of track that encircles the City of Chicago from Waukegan, Ill., on the north, to Joliet, Ill., on the west, to Gary, Ind., on the southeast, and then to South Chicago.