WASHINGTON — On a typical day, BNSF Railway has about 30 international stack trains staged along its main lines, waiting for space to open up at intermodal terminals in Chicago, Memphis, and Alliance, Texas. The terminals are clogged due to an unprecedented combination of record volume and shippers and receivers being slow to pick up […]
KANSAS CITY, Mo. — Kansas City Southern has fired back at Canadian Pacific’s appeal to its stockholders to turn down the proposed merger with Canadian National, saying those stockholders should focus on the fact CN’s offer is worth $50 more per share than the last CP proposal. CP filed a proxy statement asking KCS shareholders […]
CALGARY, Alberta — Canadian Pacific is asking Kansas City Southern stockholders to vote against the railroad’s proposed merger with Canadian National. The railroad filed a proxy statement to that effect on Thursday, with Canadian Pacific CEO Keith Creel saying his railroad would have preferred not to appeal to the KCS shareholders, but that with a meeting […]
WASHINGTON — The chairman of the House Committee on Transportation and Infrastruture has voiced his opposition to a voting trust while regulators consider the proposed merger of Canadian National and Kansas City Southern. Rep. Peter DeFazio (D-Ore.) said in a Monday letter to the Surface Transportation Board that the trust would “reduce competition and prejudice […]
Mergers or acquisitions of two or more railroads always bring a blending of motive power rosters. Kansas City Southern, like all Class I railroads today, relies on its fleet of A.C. (alternating current) traction locomotives for most of its operations, similar to both Canadian National’s and Canadian Pacific’s motive power philosophies. Kansas City Southern’s grade-intensive […]
KANSAS CITY, Mo. – Kansas City Southern’s revenue and volume surged in a second quarter that compared favorably to a year ago, when pandemic-related shutdowns resulted in historic traffic declines. But the railroad’s $700 million merger breakup fee paid to Canadian Pacific sent KCS into the red for the quarter. Current merger partner Canadian National will […]
KANSAS CITY, Mo. — Kansas City Southern was indeed the pretty girl at the dance. KCS was pursued by at least two other suitors besides Canadian Pacific and Canadian National – including an unnamed Class I system that was interested in acquiring only part of the cross-border railroad — during the lengthy process leading to […]
MONTREAL and KANSAS CITY, Mo. — Kansas City Southern has scheduled an online special meeting of its stockholders for Aug. 19 to vote on the proposed merger with Canadian National. Those holding stock as of July 1 will be entitled to vote on the agreement, under which stockholders will receive $200 cash and 1.129 shares […]
WASHINGTON — Responding to comments made to the Surface Transportation Board on their voting trust proposal, Canadian National and Kansas City Southern have made their final case for approval of a voting trust while the CN-KCS merger is being considered by regulators, rebutting at length claims made by rival Canadian Pacific. The Tuesday filing, available […]
KANSAS CITY — Kansas City Southern and Midstream Texas Operating are combining to build a new transload facility for petroleum and petrochemical products in Corpus Christi, Texas, for shipment into Mexico, the companies announced this week. The facility will be built by MTO on property leased from KCS. When operations begin, which is expected to […]
Intermodal analyst Larry Gross has gone out on a limb. In his latest “Intermodal in Depth” report, Gross predicts the demise of TOFC, or trailer on flatcar service, within the next four years. In some ways, this shouldn’t be a surprise. Trailers have become a smaller and smaller part of the intermodal world as […]
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 […]
