As Canadian Pacific and Canadian National continue their duel for control of Kansas City Southern, one topic keeps coming up: Why don’t the Canadian railways jointly acquire KCS and split it up? With so much bad blood between CP and CN it’s not a likely scenario, as their war of words has escalated this week. […]
WASHINGTON – The railroad duel of the 21st century continues. In a letter to federal regulators, Canadian National today touted its “superior” bid for Kansas City Southern and sought to correct “misleading statements” that Canadian Pacific made this week about a potential CN-KCS merger. Last month CP and KCS reached a friendly, $29 billion deal […]
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 […]
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 […]
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 […]
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 […]
KANSAS CITY, Mo. — Kansas City Southern’s first-quarter earnings dipped as volume fell because of harsh winter weather and the ongoing computer chip shortage that has curbed auto production in Mexico. KCS reported today that its operating income declined 12%, to $253 million, as revenue decreased 4%, to $706 million. Earnings per share, adjusted 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 […]
Any way you look at it, Canadian Pacific’s proposed acquisition of Kansas City Southern is a blockbuster deal. It creates the first railroad to link the U.S., Mexico, and Canada. It gives shippers from both railroads more single-line service options. And it will boost competition – with other railroads and, more importantly, trucks – in […]
CP, KCS say 45 more entities have filed statements of support for merger Canadian Pacific and Kansas City Southern says 45 more customers, ports, and other entities have filed statements with the Surface Transportation Board supporting their planned merger, bringing the number supporting the proposal to more than 300. In a press release, the railroads […]
KANSAS CITY — With the recent announcement that Canadian Pacific is acquiring Kansas City Southern, railfans will no doubt be heading to the KCS to capture the last days of the smallest of the Class I railroads. But where should you go to catch the action on such a vast system? Here’s a few highlights, […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern have rounded up broad support for their proposed merger, which would create the first railroad to operate in the U.S., Canada, and Mexico. The railways announced yesterday that they have received support statements from 259 shippers, other railroads, economic development authorities, and ports. Shipper sentiment will […]
