Canadian National and Canadian Pacific have both announced records for Canadian grain movement in the just completed 2020-21 crop year, with CN setting a second consecutive record and CP reaching a new mark for the fourth consecutive year. CN says it moved more than 31 million metric tons of grain, bettering last year’s mark of […]
CALGARY, Alberta — The Transportation Safety Board of Canada is investigating a grass fire that was reportedly ignited by a Canadian National train in Calgary’s Erin Woods neighborhood on Saturday. The Calgary Herald reports the Calgary Fire Department responded to a report of a grass fire along the CN tracks about 1:40 a.m., using some […]
MONTREAL — Canadian National’s second-quarter earnings bounced back from the pandemic amid growth in virtually every traffic segment, the railway said on Tuesday. “Our results reflect broad-based trends and forward momentum across all of our business, and also the enduring power of our vast and diversified CN network,” CEO JJ Ruest told investors and analysts on […]
Canada’s busiest railroad corridor remains hobbled nine days after a devastating wildfire in Lytton, British Columbia. Lytton, which was virtually destroyed by the June 30 fire, is in the heart of the directional running zone Canadian National and Canadian Pacific use in the rugged Thompson and Fraser river canyons. Westbound traffic flows over CN’s single-track […]
MONTREAL – Canadian National and Kansas City Southern note that their proposed combination continues to gain support, with letters from customers, suppliers, elected officials, and other stakeholders being filed with the Surface Transportation Board. Nearly 200 additional letters have been sent to CN and KCS and filed with the STB, bringing the total number of […]
KANSAS CITY, Mo. – Kansas City Southern has officially terminated its merger agreement with Canadian Pacific and chosen to partner with Canadian National in a $33.6 billion deal to create the first railroad linking Canada, the U.S., and Mexico. “We are thrilled that KCS has agreed to combine with CN to create the premier railway for […]
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 […]
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 […]
If Canadian Pacific does not top Canadian National’s $33.6 billion offer for Kansas City Southern in the next five days, a CN-KCS merger would proceed toward the approval process. First, KCS shareholders must approve the deal announced yesterday, which would give them $200 per share in cash, along with 1.129 shares of CN common stock, […]
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.” […]
Canadian Pacific and Canadian National both reacted positively Thursday evening to a Surface Transportation Board decision allowing CP to place Kansas City Southern into a voting trust as part of its merger plans. CP calls it a “critical milestone” in its bid, while CN says it is encouraged the voting trust that is part of […]
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 […]
