Actually, the Union Railroad has nothing to do with the CN buyout of the Bessemer. The Union, along with the Birmingham Southern, EJ&E, Lake Terminal and a few other holdings, are owned by Transtar. The B&LE, Missabe, and P&C Dock are owned by Great Lakes Transportation, a holding company owned by Blackstone Capital Partners. Blackstone was at one time the majority owner of Transtar, with US Steel as a minority partner. Then, a few years ago, US Steel spun off the GLT properties and took 100% control of Transtar. Blackstone sold all their former Transtar holdings to CN.