The Upper Valley short line that shuffles freight over the Connecticut River between White River Junction, Vermont, and West Lebanon, New Hampshire, is being acquired by Genesee & Wyoming, the Valley News reported.

The Connecticut-based railroad giant, which owns or leases 120 freight railroads around the world, filed a notice Thursday that it has reached a purchase agreement with Claremont Concord Railroad to acquire its railroad line in Claremont, New Hampshire, and lease to operate over a state-owned line in West Lebanon.

Christopher Freed, owner of the Claremont Concord Railroad, didn’t respond to messages seeking comment last week.

Genesee & Wyoming spokesman Michael Williams confirmed that the company is planning to buy the line, but didn’t elaborate.

“When we’ve met with customers and when the transaction is finalized, we’ll be in a position to comment further,” Williams said in an email.

Genesee & Wyoming’s New England Central Railroad is a regional freight carrier that operates a 394-mile rail line between New London, Connecticut, and the border of Vermont and Quebec. Claremont and White River Junction are interchange points along the line.

The railroad’s origins date back to the 1800s as a line to connect two cities. Over the next century, the company passed through several mergers and consolidations before being absorbed by Boston & Maine. The line began to shrink and portions of it were abandoned as the New England rail industry declined.