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MONTREAL – Canadian National has no plans to back off from its proposed acquisition of Kansas City Southern and remains confident that it can obtain the necessary regulatory approvals to create the first railroad linking Canada, the U.S., and Mexico, CEO JJ Ruest said today. Ruest’s comments came a day after CN’s fifth-largest shareholder, TCI […]
WASHINGTON — BNSF Railway and Union Pacific are locked in a dispute over BNSF haulage rights traffic that moves over UP rails along the Texas Gulf Coast. As part of UP’s acquisition of Southern Pacific in 1996, BNSF gained access to customers along UP between Houston and Brownsville, Texas, which also is a gateway to […]
MONTREAL — Canadian National today filed its Kansas City Southern merger agreement with federal regulators, and asked the Surface Transportation Board to adopt an expedited schedule for reviewing its request to put KCS into a voting trust. In what CN termed a procedural move, the STB on Monday denied CN’s request to place KCS into […]
MONTREAL – One of Canadian National’s largest investors has urged the railway to abandon its pursuit of Kansas City Southern, saying it would be reckless in light of regulatory uncertainty surrounding the merger. The U.S. Surface Transportation Board yesterday denied, on procedural grounds, CN’s request to put KCS into a voting trust while the merger […]
WASHINGTON – Federal regulators have dealt a blow to Canadian National’s proposed acquisition of Kansas City Southern. The Surface Transportation Board today denied CN’s request to place KCS into a voting trust while the merger is under review. The board said CN’s application was incomplete, however, because CN has not yet filed its merger application. And […]
Product news Model railroad operators and builders can get the latest information about locomotives, freight cars, passenger cars, tools, track, and more by reading Model Railroader’s frequent product updates. Here are the products Model Railroader editors have news on for the week of May 20, 2021. HO scale locomotives Genesis 4-8-4 FEF-2 and FEF-3 steam […]
WASHINGTON — The U.S. Justice Department is opposed to allowing Canadian National to place Kansas City Southern in a voting trust as part of the process for the proposed merger of the two railroads, saying the deal “raises sufficient competition concerns on first blush” to prohibit the procedure. Canadian Pacific, which has had its earlier […]
WASHINGTON — The Chicago suburb of Barrington, Ill. — which battled Canadian National’s acquisition of the Elgin, Joliet & Eastern in 2009 and has protested increased rail traffic ever since — has warned federal regulators that CN’s proposed merger with Kansas City Southern would create “a traffic congestion nightmare for the people of the greater […]
Brian Gorton named as Conrail president, chief operating officer Conrail has named Brian E. Gorton as its president and chief operating officer, succeeding the retired Timothy Tierney. The move, announced Thursday, was effective April 19. Gorton, who began his railroad career as a conductor for Conrail in 1987, was most recently the general manager of […]
Wabtec wins award for FLXdrive locomotive, Golden Stevie Award; gains contract for equipment in India Wabtec’s FLXdrive battery-electric locomotive has been named a winner of Fast Company magazine’s World Changing Ideas for 2021 in the transportation category. The locomotive, which recently concluded more than 13,000 miles of testing in Southern California, uses more than 18,000 […]
In Monday morning’s latest installment in the regulatory and public-relations efforts to boost their respective bids for Kansas City Southern, Canadian Pacific and Canadian National have each issued new press release. CP’s cites what it terms “mounting opposition” to the CN-KCS merger proposal, while CN has released an open letter to “the Kansas City Southern […]
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 […]
