 The following year, the company became the Shropshire Union Railways and Canal Company, by an Act of Parliament which authorised the new company to take over the Shrewsbury Canal and to buy the Montgomery Canal and the Shropshire Canal.In 1847, the Shropshire Union Company agreed to the terms of a lease from the London and North Western Railway Company (LNWR), and so lost its independence after little more than a year, but continued to manage the canals under its control.The 500 shares of the Shropshire Canal were initially valued at £150 each, making it worth £75,000.