KANSAS CITY, Mo. — Kansas City Southern says Canadian Pacific’s sweetened merger offer is not sweet enough. The KCS board today rejected CP’s increased bid, saying that the $31 billion offer made on Tuesday falls short of the $33.6 billion deal it has to merge with Canadian National. KCS also said that it would reschedule […]
BIG BOY HOT SPOT Location If you’re for Union Pacific Big Boy Hot Spot this summer, don’t miss the Dexter, Missouri, community. Dexter is situated in the rural southeast corner of Missouri in Stoddard County, about halfway between St. Louis and Memphis. It is surrounded by fertile soil, vast row-crop farmland, and straight, high speed […]
WASHINGTON – Any attempt to regulate intermodal traffic would not fix current congestion issues and would clash with congressional intent to keep railroads largely deregulated, the Association of American Railroads has told the Surface Transportation Board. Last month STB Chairman Martin J. Oberman expressed concern about the impact of congestion on intermodal shippers, some […]
WASHINGTON — U.S. rail traffic for the week ending Aug. 7 offered mixed results compared to the same week in 2020, with carload traffic running ahead of 2020 figures while intermodal volume slipped slightly below 2020 levels. Statistics from the Association of American Railroads show a total volume of 509,607 carloads and intermodal units, 2.4% […]
Not what it seems A Clinchfield “Shifter South” crawls out of Elkhorn City yard away from the camera and across Pool Point at the north end of the Breaks of the Big Sandy in 1964. The three-unit pusher will stay with the train to Towers, Va., where the grade begins to ease. Ron Flanary photo […]
WASHINGTON — Canadian Pacific and Canadian National have taken steps to limit congestion at their U.S. intermodal terminals as shippers have been slow to pick up containers due to the impact of the pandemic. The Canadian railways outlined their responses in letters to Surface Transportation Board Chairman Martin J. Oberman, who on July 22 requested information […]
BERLIN — Much of Germany’s rail system has been shut down by a two-day strike expected to leave only about a quarter of the nation’s long-distance trains in operation Wednesday and Thursday. The Associated Press reports national operator Deutsche Bahn is asking passengers to avoid unnecessary travel and will suspend COVID-19 related restrictions, allowing every […]
WASHINGTON — The Senate’s passage of a $1.2 trillion infrastructure bill drew praise from a variety of rail observers and other interested parties Tuesday. The bill includes $66 billion for rail-related spending, including $58 billion for Amtrak. Amtrak board chairman Tony Coscia said in a statement that the bill represents more than just this country’s […]
NORFOLK, Va. — The company’s first issuance of green bonds and plans to address greenhouse gas emissions highlight Norfolk Southern’s Environmental, Social, and Governance Report, the new name for its 14th annual corporate responsibility report. “From environmental stewardship to the safety and development of our entire team, we are in the business of a better […]
Independent analyst Anthony B. Hatch is fond of saying that one of freight railroads’ enduring advantages is owning and maintaining their own infrastructure. Nothing could drive that point home better than the repair blitz that Union Pacific launched after its 1,200-foot Dry Canyon Bridge sustained heavy damage from a wildfire. The 150-foot-tall span in Hotlum, […]
CALGARY, Alberta — Canadian Pacific on Tuesday sweetened its offer for Kansas City Southern in the hopes that regulatory uncertainty would unravel Canadian National’s merger agreement with KCS. CP boosted its bid by $2 billion, which values KCS at $300 per share. That’s $25 per share higher than CP’s previous offer but still $25 below […]
CALGARY, Alberta — Is Canadian Pacific preparing a higher offer for Kansas City Southern? The Wall Street Journal is reporting (paywalled) that CP’s board met today to authorize a new offer worth about $300 per share. That’s up about $25 from CP’s final offer to KCS, but still short of Canadian National’s offer that’s valued […]
