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WASHINGTON — Canadian Pacific and Kansas City Southern plan to file their merger application with U.S. regulators on or around June 28 and have proposed a 10-month review of the deal that would create the first railroad to link the U.S., Canada, and Mexico. The railroads told the Surface Transportation Board that their proposed review timetable […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern executives say combining their railroads into the first system linking Canada, the U.S., and Mexico will generate significant traffic growth across all commodities. “What a historic day,” CP CEO Keith Creel said during a Sunday afternoon investor webcast where executives touted the $29 billion deal to create […]
CALGARY, Alberta — Canadian Pacific’s proposed acquisition of Kansas City Southern will unite the two smallest Class I railroads and create the only North American system that will operate in the U.S., Canada, and Mexico. The combination of the 12,500-mile CP and 6,700-mile KCS, announced today, is a classic end-to-end merger: The railways currently interchange in […]
CALGARY — Canadian Pacific will buy Kansas City Southern in a cash and stock transaction worth approximately $29 billion, CP has confirmed. Financial Times first reported the story Saturday night. In an announcement posted Sunday morning, CP said the deal has the approval of both boards of directors, and confirms the previously reported price valuing […]
KANSAS CITY. Mo. — Kansas City Southern, which reported fourth-quarter and full-year earnings growth today, expects revenue to grow at least 11% this year as cross-border petroleum and intermodal traffic continue to soar. “We feel very good about 2021 and beyond,” CEO Pat Ottensmeyer told investors and analysts on the railroad’s earnings call on Friday […]
KANSAS CITY, Mo. — The coronavirus pandemic has hit Kansas City Southern de Mexico particularly hard, with up to 15% of the railroad’s train crews out on leave due to COVID-19. On a typical day, about 5% of train crews systemwide mark off due to coronavirus on both sides of the border, KCS executives said […]
Tuesday afternoon rail news: KCS to set goal for greenhouse gas reduction Kansas City Southern has pledged to set a goal for reducing greenhouse gas emissions, submitting a commitment letter to the Science Based Targets Initiative to establish a target to align with what climate scientists say is needed to meet the Paris Agreement goal […]
KANSAS CITY, Mo. — Kansas City Southern’s main line to the Mexican Port of Lazaro Cardenas has been blocked by teacher’s union protests for 45 straight days, putting a dent in the railway’s overall traffic and revenue. The blockage of the line to Mexico’s busiest port is responsible for a 3% decline in KCS’s fourth-quarter […]
KANSAS CITY, Mo. — Kansas City Southern reinstated and boosted its outlook for the year as traffic volume has risen above pre-pandemic levels in recent weeks. The railway, which reported improved earnings on Friday morning, says it now expects slightly higher earnings per share this year and its operating ratio to should improve to around […]
O GAUGE KANSAS CITY SOUTHERN LEGACY SD70ACE NO. 4006 BY LIONEL Price: $599.99 Stock no.: 20333330) Features: O-36 operation, two can-style motors, two remote couplers, smoke unit, Legacy sound system, Legacy Command Control for operation in conventional, TrainMaster, RailSounds, or using the LionChief Universal Remote or the Bluetooth LionChief app Low speed (Cmd): 2.2 scale […]
Thursday morning rail news: Report: Investment groups make new bid to buy Kansas City Southern Two investment groups have made a new offer to buy Kansas City Southern after a previous bid was rebuffed, the Wall Street Journal reports in a paywalled article. Details of the bid by Blackstone Group Inc. and Global Infrastructure Partners […]
KANSAS CITY, Mo. – The two infrastructure funds that are reportedly teaming up to acquire Kansas City Southern are no strangers to the railroad industry. Blackstone Group owned Chicago & North Western in the late 1980s and early 1990s. It also owned Great Lakes Transportation, a collection of former U.S. Steel transportation companies that included […]
