MONTREAL — The battle for Kansas City Southern appears to be over. KCS on Thursday accepted Canadian National’s $33.6 billion bid to create the first railroad linking Canada, the U.S., and Mexico. KCS said it would break the $29 billion merger agreement it reached in March with Canadian Pacific in favor of CN’s “superior offer.” […]
MONTREAL – As part of its proposed acquisition of Kansas City Southern, Canadian National envisions spending $250 million to create an upgraded route linking Kansas City, Mo., with Eastern Canada via Springfield, Ill. The big prize in a CN-KCS merger is connecting Canada, the U.S., and Mexico. But the combined CN-KCS route to Kansas City would […]
OMAHA, Neb. — BNSF Railway corporate parent Berkshire Hathaway is closely watching the battle for Kansas City Southern. Canadian Pacific and Canadian National have dueling bids in place for the smallest Class I railroad, with an eye toward creating the first system to link Canada, the U.S., and Mexico. “Either of those companies acquiring Kansas […]
History of the Northern Pacific Railway In 1864 Abraham Lincoln signed the charter of a railroad to be built from the Great Lakes to Puget Sound — the Northern Pacific Railroad. The Philadelphia banking house of Jay Cooke & Co. undertook to sell the bonds, which were to yield 7.3 percent interest, and sold $30 […]
KANSAS CITY, Mo. — Kansas City Southern will begin discussions with Canadian National over its offer for the railroad after the KCS board of directors determined the CN bid could reasonably be expected to lead to a “company superior proposal,” as defined in its merger agreement with Canadian Pacific, KCS announced in a Saturday press […]
OMAHA, Neb. — Union Pacific is closely watching the battle for Kansas City Southern and how an acquisition by either Canadian Pacific or Canadian National could affect its cross-border traffic. UP CEO Lance Fritz notes that U.S. regulations require that mergers between Class I railroads must enhance competition and improve service for all shippers. “For […]
MONTREAL — Canadian National argues that its proposed combination with Kansas City Southern will offer shorter, faster, and more efficient routes than tying together the Canadian Pacific and KCS networks. And that less complicated route structure, CN contends, will enable a CN-KCS system to successfully gain north-south traffic that currently moves by truck between Mexico, the […]
Let the bidding war begin. Canadian National today topped rival Canadian Pacific’s $29 billion offer for Kansas City Southern in what one analyst called “an aggressive move.” CN’s $33.7 billion offer is a 21% premium to the deal CP reached with KCS last month. CN is offering KCS investors $325 per share, including $200 per […]
Union Pacific to close Palestine, Texas, car shop, subject of lawsuit Union Pacific will close its car shop in Palestine, Texas, as of June 14, eliminating as many as 57 positions. The Palestine Herald-Press reports employees were notified Thursday; a Union Pacific spokeswoman confirmed the closure and attributed it to operational changes across the system. […]
VANCOUVER, British Columbia — Beginning Monday, May 17, VIA Rail Canada will begin operating its flagship train, the Canadian, across its full route from Vancouver to Toronto. The train has been operating between Vancouver and Winnipeg, Manitoba. The first westbound trip from the Ontario city is set for Sunday, May 23. Service will continue to operate […]
OMAHA, Neb. — Union Pacific has resisted an activist investment firm’s push to allow shareholders to have an annual non-binding vote on the railroad’s efforts to reduce its carbon footprint. London-based TCI Fund Management, which has investments in Canadian National, Canadian Pacific, and UP, contends that a company’s greenhouse gas emissions will have an impact […]
DULUTH, Minn. — Volunteers at the Lake Superior Railroad Museum have returned Northern Pacific SD45 No. 3617 to operating condition. The locomotive was started up and moved under its own power at the museum on Feb. 27, the first time it has operated in more than 14 years. The locomotive was donated to the museum […]
