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 […]
ENSIGN, Alberta — No injuries were reported when 39 cars of a Canadian Pacific train derailed early Monday morning near the community of Ensign. Global News reports the accident occurred about 1:35 a.m., according to the railroad. The Vulcan County, Alta., website reported that some cars involved carried residual amounts of anhydrous ammonia or liquid […]
REGINA, Saskatchewan — A long-running battle between Canadian Pacific and the province of Saskatchewan is leading to an effort to amend the provincial constitution to remove a disputed tax loophole for the railroad. The Canadian Press reports CP is suing the province for $341 million in taxes it has paid, arguing it is exempt from […]
NEW YORK – Canadian Pacific’s first hydrogen fuel cell locomotive, a converted SD40-2F dubbed H2 0EL for “hydrogen zero-emissions locomotive,” will roll under its own power by the end of the year and then enter test service next year, CEO Keith Creel says. CP’s homebuilt locomotive test bed, along with its headquarters solar array and other […]
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 […]
CALGARY — Canadian Pacific’s Keith Creel has been named 2021 CEO of the Year by Canadian newspaper The Globe and Mail’s Report of Business Magazine. A profile in the magazine focuses on the 53-year-old Creel’s skill as a strategist in efforts to merge CP with Kansas City Southern. The magazine recognized other CEOs for leadership, […]
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 […]
Canadian Pacific and Canadian National have each made $100,000 donations to the Canadian Red Cross to support relief efforts in flood-battered British Columbia. CP also said it will match employee donations to the Canadian Red Cross in support of disaster relief. The railroad has also organized food delivery to the Spuzzum First Nation, secured portable […]
CALGARY, Alberta — Canadian Pacific says it expects to have its main line between Vancouver and Kamloops, British Columbia, reopened by midday today as a result of more than a week of around-the-clock work to repair damage from Nov. 14 flooding. The railroad says 30 locations on its Thompson and Cascade subdivisions sustained flood damage […]
WASHINGTON — Union Pacific has urged federal regulators to reject the Canadian Pacific-Kansas City Southern merger application, arguing that it doesn’t contain enough market or operational data to meet requirements — a view subsequently supported by Canadian National. UP, in a filing with the Surface Transportation Board late Friday, said CP took shortcuts in its […]
