NEW ORLEANS — Rail service to New Orleans and the Gulf Coast remains disrupted following Sunday’s arrival of Hurricane Ida, with Kansas City Southern, Union Pacific, Norfolk Southern, and Kansas City Southern all reporting continuing shutdowns following the storm that has left much of Louisiana and parts of Mississippi without power. Kansas City Southern said […]
CHICAGO — The North American Rail Shippers Association has added an online participation option to its annual meeting, to be held in Chicago Sept. 7-9. “To make attending as convenient as possible we have added online options because we know there is still uncertainty about traveling due to COVID-19,” NARS President Tom Tisa said in a […]
SHREVEPORT, La. — Kansas City Southern will partner with Northwest Louisiana Technical Community College for the railroad’s Skilled Trade Women’s Scholarship Program, to fund the education and training of three women in one of several areas: diesel, electrician, industrial maintenance technology, industrial instrumentation and electrical technician, or welding. The first scholarship has been awarded to […]
SPRINGFIELD, Ill. — The Illinois Department of Transportation has announced a $10.1 million project to improve rail operations in Mitchell, Ill., northeast of St. Louis. The project will reconfigure rail lines and replace a 97-year-old interlocking tower, with funding from six sources: $5.1 million from the Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvments […]
KANSAS CITY, Mo. — Kansas City Southern shareholders will vote on the proposed merger with Canadian National on Sept. 3. KCS this morning convened and adjourned its previously scheduled special meeting of shareholders, delaying the vote in the absence of a Surface Transportation Board decision on CN’s request to put KCS into a voting trust […]
MOSSVILLE, La. — Infrastructure and supply-chain firm Savage and Kansas City Southern have announced they will build a transload and railcar storage facility on property leased from KCS’s Mossville, La., yard. Savage’s Mossville multi-commodity railport will help serve Lake Charles area refineries, chemical plants, and other businesses. “Savage has a longstanding relationship with KCS and we’re […]
KANSAS CITY, Mo. — Kansas City Southern has followed through on plans to delay its vote on Canadian National’s merger offer, pending a ruling from the Surface Transportation Board on the voting trust that is a key portion of the merger plan. KCS stockholders were set to vote on the deal Thursday, but that is now […]
KANSAS CITY, Mo. – Two influential shareholder advisory firms say that Kansas City Southern shareholders should abstain from voting on the Canadian National merger proposal until federal regulators make a key ruling. Institutional Shareholder Services and Glass Lewis, which advise large investment firms regarding proxy votes, have recommended that KCS shareholders abstain until after the […]
KANSAS CITY, Mo. — Kansas City Southern says Canadian Pacific’s sweetened merger offer is not sweet enough. The KCS board today rejected CP’s increased bid, saying that the $31 billion offer made on Tuesday falls short of the $33.6 billion deal it has to merge with Canadian National. KCS also said that it would reschedule […]
CALGARY, Alberta — Canadian Pacific on Tuesday sweetened its offer for Kansas City Southern in the hopes that regulatory uncertainty would unravel Canadian National’s merger agreement with KCS. CP boosted its bid by $2 billion, which values KCS at $300 per share. That’s $25 per share higher than CP’s previous offer but still $25 below […]
CALGARY, Alberta — Is Canadian Pacific preparing a higher offer for Kansas City Southern? The Wall Street Journal is reporting (paywalled) that CP’s board met today to authorize a new offer worth about $300 per share. That’s up about $25 from CP’s final offer to KCS, but still short of Canadian National’s offer that’s valued […]
KANSAS CITY, Mo. — A shareholder advisory firm has recommended that Kansas City Southern investors approve Canadian National’s $33.6 billion offer to acquire the company. Institutional Shareholder Services, in a report issued Friday, said that the “premium, valuation, and strategic rationale for the transaction are compelling.” KCS shareholders are scheduled to vote on the deal […]
