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KANSAS CITY — With the recent announcement that Canadian Pacific is acquiring Kansas City Southern, railfans will no doubt be heading to the KCS to capture the last days of the smallest of the Class I railroads. But where should you go to catch the action on such a vast system? Here’s a few highlights, […]
Death toll reaches 50 in Taiwan derailment; construction supervisor arrested, released on bond At least 50 are now dead as a result of Taiwan’s worst train crash in 70 years, which occurred Friday when an express train hit a truck that had slid down an embankment from a building site. Reuters reports the manager of […]
WASHINGTON — BNSF Railway, Canadian National, and Union Pacific have joined Norfolk Southern in asking federal regulators to apply the more stringent 2001 merger review rules to Canadian Pacific’s proposed acquisition of Kansas City Southern. As the smallest Class I, KCS received a waiver from the current merger review rules, and CP and KCS have […]
WASHINGTON — Several trade associations, a major agricultural shipper, and Norfolk Southern today asked the Surface Transportation Board to review Canadian Pacific’s proposed acquisition of Kansas City Southern under the more stringent 2001 merger rules. CP and KCS have said they would seek to have the merger reviewed under the old rules, although executives contend […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern have rounded up broad support for their proposed merger, which would create the first railroad to operate in the U.S., Canada, and Mexico. The railways announced yesterday that they have received support statements from 259 shippers, other railroads, economic development authorities, and ports. Shipper sentiment will […]
WASHINGTON — Canadian Pacific’s proposed acquisition of Kansas City Southern has picked up its first support from another railroad company. Shortline railroad operator Genesee & Wyoming has told the U.S. Surface Transportation Board that it backs the merger of the smallest Class I systems. “From our perspective, the proposed transaction should provide improved service options […]
WASHINGTON — A major shipper group plans to challenge the waiver that would permit Canadian Pacific’s proposed acquisition of Kansas City Southern to be reviewed under the Surface Transportation Board’s old, less restrictive merger rules. The National Industrial Transportation League said today that the CP-KCS deal would ultimately harm rail competition. “Based on the significant loss […]
WASHINGTON — Canadian Pacific and Kansas City Southern plan to file their merger application with U.S. regulators on or around June 28 and have proposed a 10-month review of the deal that would create the first railroad to link the U.S., Canada, and Mexico. The railroads told the Surface Transportation Board that their proposed review timetable […]
The Canadian Pacific acquisition of Kansas City Southern should help the railroads develop new business — including diverting truck traffic to rail — but the $29 billion deal announced on Sunday could face regulatory hurdles and opposition from shippers and other Class I systems. CP and KCS executives touted the potential for traffic growth that would […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern executives say combining their railroads into the first system linking Canada, the U.S., and Mexico will generate significant traffic growth across all commodities. “What a historic day,” CP CEO Keith Creel said during a Sunday afternoon investor webcast where executives touted the $29 billion deal to create […]
CALGARY, Alberta — Canadian Pacific’s proposed acquisition of Kansas City Southern will unite the two smallest Class I railroads and create the only North American system that will operate in the U.S., Canada, and Mexico. The combination of the 12,500-mile CP and 6,700-mile KCS, announced today, is a classic end-to-end merger: The railways currently interchange in […]
CALGARY — Canadian Pacific will buy Kansas City Southern in a cash and stock transaction worth approximately $29 billion, CP has confirmed. Financial Times first reported the story Saturday night. In an announcement posted Sunday morning, CP said the deal has the approval of both boards of directors, and confirms the previously reported price valuing […]
