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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 […]
WASHINGTON – A coalition of shipper groups on Monday urged federal regulators to reject Canadian National’s request to put Kansas City Southern into a voting trust while their proposed merger is under review. The Freight Rail Customer Alliance, National Coal Transportation Association, and Private Railcar Food and Beverage Association said that while they had not taken […]
General Electric’s 4,400 hp C44-9Ws were, by far, the most popular D.C. traction locomotives the company every produced, with almost 3,600 copies built for North American customers. Sales began in the early 1990s just as A.C. traction was taking hold in the industry. Many railroads were still either wary of the new A.C. technology and […]
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 […]
Canadian contrasts Canadian National U-4-a 6404’s rounded contours contrast with the angular lines of a nearby SW1200RS diesel switcher, although the 4-8-4’s traditional-style signal/marker lamps, boxy numberboards, and spoked engine-truck wheels detract from its streamlined appearance. Jim Shaughnessy photo […]
WASHINGTON — Canadian National and Kansas City Southern today asked federal regulators to approve a voting trust that is the initial step in their plans to merge into the first railroad linking Canada, the U.S., and Mexico. To address competition concerns in the one area where the railroads’ systems overlap, CN said it will sell the […]
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 […]
MONTREAL – Canadian National has no plans to back off from its proposed acquisition of Kansas City Southern and remains confident that it can obtain the necessary regulatory approvals to create the first railroad linking Canada, the U.S., and Mexico, CEO JJ Ruest said today. Ruest’s comments came a day after CN’s fifth-largest shareholder, TCI […]
MONTREAL — Canadian National today filed its Kansas City Southern merger agreement with federal regulators, and asked the Surface Transportation Board to adopt an expedited schedule for reviewing its request to put KCS into a voting trust. In what CN termed a procedural move, the STB on Monday denied CN’s request to place KCS into […]
MONTREAL – One of Canadian National’s largest investors has urged the railway to abandon its pursuit of Kansas City Southern, saying it would be reckless in light of regulatory uncertainty surrounding the merger. The U.S. Surface Transportation Board yesterday denied, on procedural grounds, CN’s request to put KCS into a voting trust while the merger […]
