By Sabela Ojea


Canadian National Railway said it is acquiring railroad operator Iowa Northern Railway, without providing details on the value of the deal.

The company on Wednesday said it has signed an agreement to buy Iowa Northern Railway, which operates about 275 track miles in Iowa connecting to Canadian National Railway's U.S. rail network.

The deal would support local businesses' growth prospects, Canadian National Railway said.

"Iowa Northern Railway serves upper Midwest agricultural and industrial markets covering many goods, including biofuels and grain," it added.


Write to Sabela Ojea at sabela.ojea@wsj.com


(END) Dow Jones Newswires

12-06-23 1728ET