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Canadian Pacific today finds itself in the same uncomfortable – and threatened – position that Norfolk Southern was in 25 years ago. Back in October 1996, CSX Transportation utterly shocked NS when it announced it had a deal to acquire Conrail. The $8.1 billion merger would give CSX access to the New York […]
WASHINGTON — If Canadian National’s rival bid to acquire Kansas City Southern succeeds, Canadian Pacific would be forced to set off the final wave of railroad consolidation by seeking a merger partner. CP provided this warning in a letter to the U.S. Surface Transportation Board on Wednesday, a day after CN announced that it, too, […]
CALGARY, Alberta — Canadian Pacific says Canadian National’s competing bid for Kansas City Southern would reduce competition, raise significant regulatory concerns, and upset competitive balance in the North American rail network. CN’s unsolicited $33.7 billion offer, announced Tuesday morning, tops the $29 billion deal CP reached last month to acquire KCS. The KCS board says […]
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 […]
Located just 20 miles west of Milwaukee in an easy to reach location, Duplainville offers up big-time railroading on two major Class I railroads, the Canadian National and the Canadian Pacific (plus Amtrak), a corner tavern with a great burger, and plenty of parking and other fans to mingle with. Join us for a preview […]
Located just 20 miles west of Milwaukee in an easy to reach location, Duplainville offers up big-time railroading on two major Class I railroads, the Canadian National and the Canadian Pacific (plus Amtrak), a corner tavern with a great burger, and plenty of parking and other fans to mingle with. Join us for a preview […]
KANSAS CITY, Mo. — Last year, a pair of infrastructure funds sought to take Kansas City Southern private. Last month, Canadian Pacific struck a $29 billion deal to acquire KCS. And today Canadian National topped that with an offer worth $33.7 billion. What’s next in the battle to acquire the smallest but fastest growing Class […]
Families sue CP, Transport Canada over 2019 derailment that killed three The families of two of the Canadian Pacific crew members killed in the derailment of a runaway CP train in February 2019 are suing the railroad, officials including CEO Keith Creel, police department, and federal agency Transport Canada. The CBC reports the families of […]
STB prepares for passenger rail oversight, will consider office, advisory group for passenger issues The Surface Transportation Board has created a staff working group to prepare the board for its oversight of passenger rail issues, board chairman Martin J. Oberman has announced. Under a recently enacted Federal Railroad Adminstration rule, the STB oversees standards for […]
WASHINGTON — Canadian Pacific has rebutted Justice Department criticism of its proposed acquisition of Kansas City Southern, telling the Surface Transportation Board that the $29 billion merger can’t happen without a voting trust. The Justice Department on Monday raised concerns about CP’s plan to place KCS into a voting trust while the STB reviews the […]
WASHINGTON — The Justice Department on Monday questioned Canadian Pacific’s plans to put Kansas City Southern into an independent voting trust while the railroads’ proposed merger is under regulatory review. But the railroads, in a separate filing to the Surface Transportation Board on Monday evening, defended their merger, the voting trust, and their request to […]
Will Canadian Pacific’s proposed acquisition of Kansas City Southern be the spark that ignites the final round of railroad consolidation in North America? It’s a question that’s been coming up since CP and KCS announced their blockbuster $29 billion deal on March 21. Most analysts agree that CP+KCS won’t lead to the creation of two […]
