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WASHINGTON — The Surface Transportation Board’s Office of Environmental Analysis has extended the public comment period for environmental impact statement of the Canadian Pacific to Jan. 3, 2022. Comments were originally due today (Dec. 17, 2021). The extension reflects requests for additional time to comment, the Office of Environmental Impact said in the notice issued […]
Do railroad mergers live up to the hype? It’s a question that’s been rattling around in my head as federal regulators review the Canadian Pacific-Kansas City Southern merger, the first between Class I railroads in two decades. First, the projections. Within three years of the merger, Canadian Pacific Kansas City expects to gain 80,000 carloads […]
ROSELLE, Ill. — Eight Chicago suburbs are forming a coalition to voice concerns over the potential increase in rail traffic through their communities if the Canadian Pacific-Kansas City Southern merger is approved. The suburban Daily Herald reports Roselle, Elgin, Barlett, Hanover Park, Schaumburg, Itasca, Wood Dale and Bensenville are asking residents to submit comments to […]
KANSAS CITY, Mo. — Kansas City Southern’s sale to Canadian Pacific has officially been completed, allowing the KCS shares to be placed into a voting trust while the deal is reviewed by federal regulators. The $31 billion deal sees KCS stockholders receive 2.884 shares of CP common stock and $90 in case for each share […]
LONDON — Norfolk Southern and Kansas City Southern have received A-minus ratings from global environmental non-profit CDP for their efforts to address climate change. Earlier, Canadian National and CSX had been recognized as among 200 companies worldwide named to CDP’s “A list” [see “Canadian National, CSX named …,” Trains News Wire, Dec. 7, 2021]. Norfolk […]
KANSAS CITY, Mo. — Kansas City Southern shareholders today overwhelmingly approved the railway’s proposed merger with Canadian Pacific. Some 99.6% of shareholders who voted at a special meeting today approved the $31 billion deal. The transaction is expected to close on Dec. 14. After closing, KCS stockholders will receive $90 in cash and 2.884 CP […]
NEW ORLEANS — A senior Canadian Pacific official told New Orleans and Baton Rouge, La., civic leaders on Wednesday that the railroad will permit a single passenger round trip between the two cities, without any infrastructure improvements, if CP’s merger with Kansas City Southern is approved by the Surface Transportation Board. James Clements, Canadian Pacific’s […]
CALGARY, Alberta — Canadian Pacific shareholders today overwhelmingly approved the railway’s proposed merger with Kansas City Southern. KCS shareholders will vote on the $31 billion deal on Friday. Some 99.9% of CP’s investors voted in favor of the issuance of 277 million CP common shares to Kansas City Southern’s common stockholders. CP shareholders also approved […]
KANSAS CITY, Mo. — Kansas City Southern has launched a challenge grant to boost fundraising for its KCS Holiday Express program. “On this Giving Tuesday, I am proud to announce that KCS will donate $2 for every $1 raised by the Holiday Express project, up to an additional $100,000, between November 30 and December 10, […]
Mexican regulators have given their approval to the planned merger of Canadian Pacific and Kansas City Southern. The railroads announced on Nov. 26 that they had received the required approval from the Mexican Federal Economic Competition Commission and the Mexican Federal Telecommunications Institute. “This important milestone marks the next step on our path to creating […]
Gaylord Pace wants to know what’s going on with the Kansas City Southern sale. Steve Sweeney gives an update. […]
WASHINGTON — Federal regulators have accepted the Canadian Pacific-Kansas City Southern merger application and set a timetable for review of the first proposed merger of Class I railroads in two decades. In accepting the application today, the Surface Transportation Board rejected Union Pacific’s contention that CP and KCS failed to provide sufficient information about the […]
