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WASHINGTON — Amtrak has questioned Canadian National’s plan to sell Kansas City Southern’s route between New Orleans and Baton Rouge, La., as part of the planned merger of the two railroads, a plan which would see CN retain the right to operate on the route along with a freight tenant. The Amtrak comment came as […]
The Southern Railway was famous for good-quality passenger service. Here are Classic Trains editors’ picks for the five best Southern trains. Crescent Introduced on April 26, 1925, the Crescent Limited ran between New Orleans, Mobile, Atlanta, Washington, and New York. The train was operated by the Louisville & Nashville, West Point Route, Southern, and Pennsylvania […]
CHICAGO — Canadian National has announced it intends to beef up what is currently a meandering, unsignaled 40-mph ex-Gulf, Mobile & Ohio branch to connect with Kansas City Southern’s main line to the Gulf Coast. And if Canadian Pacific gets KCS, it expects to direct Mexican supply chain business to and from Western Canada through […]
WASHINGTON – In the first sign of congressional opposition to further rail mergers, the chairman of the House Committee on Transportation and Infrastructure said today that the Canadian Pacific and Canadian National dueling proposals to acquire Kansas City Southern should set off alarm bells. Rep. Peter DeFazio, an Oregon Democrat, said an acquisition of KCS […]
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. […]
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 […]
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 […]
WASHINGTON — CSX Transportation’s proposed acquisition of New England regional Pan Am Railways will have a significant impact on employment levels at Pan Am Southern, the joint venture it will share with Norfolk Southern. Genesee & Wyoming, which has been designated the neutral operator of Pan Am Southern, estimates that it can run the railroad […]
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 […]
