The Iowa, Chicago and Eastern Railroad (IC&E) was a Class II railroad operating in the north central United States. It has been controlled by the Canadian Pacific Railway and operated as a part of its system since October 30, 2008. Formerly, the IC&E was jointly owned with the Dakota, Minnesota and Eastern Railroad by Cedar American Rail Holdings (CARH), making the combined system the largest class II railroad in the United States. Created by the purchase of I&M Rail Link, IC&E commenced operations on July 30, 2002. The 1,400-mile (2,300 km) line, based in Davenport, Iowa, serves the states of Illinois, Iowa, Missouri, Minnesota and Wisconsin. Principal commodities include chemicals, coal, steel, automobiles, and agricultural products. Train dispatching is performed at a joint DM&E/IC&E facility in Sioux Falls, South Dakota. On December 26, 2008, the IC&E was merged into parent CARH, which immediately merged into the DM&E.

The Canadian Pacific Railway, also known simply as CPR or Canadian Pacific and formerly as CP Rail (1968–1996), was a Canadian Class I railway incorporated in 1881. The railway was owned by Canadian Pacific Railway Limited, which began operations as legal owner in a corporate restructuring in 2001.