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 […]
MONTREAL – Canadian National today rebutted Canadian Pacific’s criticism of its dueling bid for Kansas City Southern, saying its higher offer is superior, will enhance competition, and clear regulatory hurdles. “Rather than acknowledge the clear and substantial superiority of CN’s proposal for KCS shareholders, CP has sought to distract investors and attack CN’s proposal with a […]
CALGARY, Alberta — Canadian Pacific’s operating profit and revenue declined in the first quarter, but executives said the railway was gaining momentum as volume reached an all-time high in March. Quarterly operating income declined 6%, to $780 million, as revenue declined 4%, to %1.95 billion, CP reported on Wednesday. Earnings per share, adjusted for the impact […]
CALGARY, Alberta — Canadian Pacific CEO Keith Creel says there’s no reason to sweeten his railroad’s $29 billion offer for Kansas City Southern because Canadian National’s dueling $33.7 billion bid is so anti-competitive that it would never make it out of the starting gate. Kansas City Southern’s board is considering CN’s unsolicited offer, which was announced […]
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 […]
WASHINGTON — If Canadian National’s rival bid to acquire Kansas City Southern succeeds, Canadian Pacific would be forced to set off the final wave of railroad consolidation by seeking a merger partner. CP provided this warning in a letter to the U.S. Surface Transportation Board on Wednesday, a day after CN announced that it, too, […]
CALGARY, Alberta — Canadian Pacific says Canadian National’s competing bid for Kansas City Southern would reduce competition, raise significant regulatory concerns, and upset competitive balance in the North American rail network. CN’s unsolicited $33.7 billion offer, announced Tuesday morning, tops the $29 billion deal CP reached last month to acquire KCS. The KCS board says […]
MONTREAL — Canadian National argues that its proposed combination with Kansas City Southern will offer shorter, faster, and more efficient routes than tying together the Canadian Pacific and KCS networks. And that less complicated route structure, CN contends, will enable a CN-KCS system to successfully gain north-south traffic that currently moves by truck between Mexico, the […]
Located just 20 miles west of Milwaukee in an easy to reach location, Duplainville offers up big-time railroading on two major Class I railroads, the Canadian National and the Canadian Pacific (plus Amtrak), a corner tavern with a great burger, and plenty of parking and other fans to mingle with. Join us for a preview […]
Located just 20 miles west of Milwaukee in an easy to reach location, Duplainville offers up big-time railroading on two major Class I railroads, the Canadian National and the Canadian Pacific (plus Amtrak), a corner tavern with a great burger, and plenty of parking and other fans to mingle with. Join us for a preview […]
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 […]
Families sue CP, Transport Canada over 2019 derailment that killed three The families of two of the Canadian Pacific crew members killed in the derailment of a runaway CP train in February 2019 are suing the railroad, officials including CEO Keith Creel, police department, and federal agency Transport Canada. The CBC reports the families of […]
