WELLAND, Ontario — The Canadian grain scene is starting to become a lot less cylindrical. For the last 50 years Canadian Wheat Board cylindrical covered hoppers have dominated Canadian rails as the main way prairie farmers moved large grain shipments to coastal ports for export. But with Canadian National and Canadian Pacific investing in new […]
WASHINGTON – Canadian Pacific and BNSF Railway say they have enough crews, power, and other resources to handle surging demand for rail traffic. CP and BNSF are the first two Class I railroads to respond to the Surface Transportation Board’s request for updates about their ability to meet demand. Citing rail service problems, STB Chairman Martin […]
Canadian Pacific’s campaign against Canadian National’s proposed acquisition of Kansas City Southern took a new turn today with a half-page ad in The Washington Post that featured an editorial cartoon-style illustration – complete with caricatures of the three railroads’ chief executives. CP and CN skirmished on social media while KCS was considering their rival bids. […]
WASHINGTON – Federal regulators today asked Canadian National to provide more detailed financial information regarding its proposed merger with Kansas City Southern. The Surface Transportation Board, saying that it wants to take a cautious approach to CN’s request to put KCS into a voting trust while their $33.6 billion deal is under review, also set […]
Release of environmental report, Record of Decision allows Gateway tunnel project to move forward The Federal Railroad Administration and Federal Transit Administration have issued the final Final Environmental Impact Statement and Record of Decision on the Gateway tunnel project under the Hudson River, which clears the way for the project to receive federal funding. “This […]
CP calls CN plan to sell KCS line ‘token divestment,’ remains critical of merger’s competitive impact Canadian Pacific says Canadian National’s plans to divest a Kansas City Southern line in Louisiana is “clear recognition” of the competitive issues created by the proposed CN-KCS merger. In a Thursday statement, CP also said the “token divestment” would […]
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 […]
CALGARY, Alberta – Canadian Pacific CEO Keith Creel says that if rival Canadian National acquires Kansas City Southern, the merger will destabilize the North American rail network and make CP a target for acquisition by another Class I railroad. CP today made a last-ditch effort to convince the KCS board to abandon its agreement to […]
CALGARY, Alberta — Canadian Pacific today urged Kansas City Southern to drop its plans to merge with Canadian National, arguing that only a CP-KCS combination could win regulatory approval. “We believe that the KCS Board has a clear path to conclude that the level of risk surrounding a CN-KCS transaction and CN’s ability to close […]
WASHINGTON – Federal regulators have dealt a blow to Canadian National’s proposed acquisition of Kansas City Southern. The Surface Transportation Board today denied CN’s request to place KCS into a voting trust while the merger is under review. The board said CN’s application was incomplete, however, because CN has not yet filed its merger application. And […]
Evacuation continues after UP derailment in Iowa Iowa State Troopers said they planned to allow the fire to burn overnight after a Union Pacific train derailed and caught fire in Sibley, Iowa, on Sunday afternoon. KELO-TV reports an evacuation remains in effect in a 2½-mile radius of the derailment site, with those evacuated sheltering in […]
WASHINGTON — The U.S. Justice Department is opposed to allowing Canadian National to place Kansas City Southern in a voting trust as part of the process for the proposed merger of the two railroads, saying the deal “raises sufficient competition concerns on first blush” to prohibit the procedure. Canadian Pacific, which has had its earlier […]
