In 1993, the Canadian Pacific Railway sold the Canadian Atlantic Railway to the LT&L. It took them about 20 years to realize their mistake, but when they approached the LT&L to tender an offer to repurchase the line from St-Jean-sur-Richelieu to St John, they were politely rebuffed and offered an exchange of trackage rights (CP to St John, and LT&L from Montréal to Woodstock, Ontario) instead.

It took a couple of years of years for the CP to decide to do it (their opening counter-counteroffer was to purchase the entire Parsons Vale system, but all of the non-at large seats on the board absolutely refused to sell, and the counter³ offer of the Parsons Vale purchasing the CP instead failed because the memory of the Penn Central’s collapse was still fresh even 50 years after that catastrophe) but by 2018 the CP & LT&L had their respective trackage rights agreement and were both operating on the not-a-joint-line-really between St John & Woodstock.

Negotiations are under way to string wire over the CP’s mainline from Montréal to Woodstock, but as of 2025 nothing has been finaliseds (partially because the CP was distracted by their merger with the Kansas City Southern.)

The CPR is apparently seriously thinking about electrification, because they made a 50 unit purchase of ILW eco-644/80e locomotives in 2020.