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 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 […]
If Canadian Pacific does not top Canadian National’s $33.6 billion offer for Kansas City Southern in the next five days, a CN-KCS merger would proceed toward the approval process. First, KCS shareholders must approve the deal announced yesterday, which would give them $200 per share in cash, along with 1.129 shares of CN common stock, […]
MONTREAL — The battle for Kansas City Southern appears to be over. KCS on Thursday accepted Canadian National’s $33.6 billion bid to create the first railroad linking Canada, the U.S., and Mexico. KCS said it would break the $29 billion merger agreement it reached in March with Canadian Pacific in favor of CN’s “superior offer.” […]
MONTREAL — Canadian National is expected to sweeten its offer to acquire Kansas City Southern, the Wall Street Journal reported today. CN would, at a minimum, pick up the tab for the $700 million breakup fee that KCS would owe Canadian Pacific for backing out of their friendly $29 billion deal, the newspaper said, citing […]
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 […]
Canadian Pacific and Canadian National both reacted positively Thursday evening to a Surface Transportation Board decision allowing CP to place Kansas City Southern into a voting trust as part of its merger plans. CP calls it a “critical milestone” in its bid, while CN says it is encouraged the voting trust that is part of […]
WASHINGTON – Federal regulators on Thursday approved Canadian Pacific’s request to put Kansas City Southern into a voting trust while their proposed $29 billion merger is under review. Canadian National, which has a dueling $33.7 billion unsolicited offer under review by the KCS board, also has asked the U.S. Surface Transportation Board to consider its […]
Throughout the 1960s, my grandfather owned a filling station in the tiny town of Lanagan, south of Joplin in the southwestern corner of Missouri on the Kansas City Southern main line. Every weekend I would be at the station, and once my chores were done, I was free to wander about the area. The KCS […]
KANSAS CITY, Mo. — Kansas City Southern will begin discussions with Canadian National over its offer for the railroad after the KCS board of directors determined the CN bid could reasonably be expected to lead to a “company superior proposal,” as defined in its merger agreement with Canadian Pacific, KCS announced in a Saturday press […]
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. […]
