Canadian Pacific tells STB CN-KCS deal should not receive waiver from 2001 merger rules Canadian Pacific has asked the Surface Transportation Board to rule the proposed merger of Canadian National and Kansas City Southern does not qualify for a waiver from more stringent merger rules adopted in 2001. The STB has already granted that waiver […]
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 […]
West Virginia fails to fund MARC service, placing future in doubt The future of MARC commuter rail service to West Virginia is again in doubt after the state legislature failed to include service for the funding in its 2021-22 budget. The Martinsburg Journal-News reports state Senate President Craig Blair said he struck the commuter train […]
KANSAS CITY, Mo. — The Kansas City Southern board of directors will have to weigh dueling bids for the railway, pitting Canadian Pacific’s friendly $29 billion deal against Canadian National’s unsolicited $33.7 billion offer. Analysts say that CP’s bid, while lower, is almost certain to gain regulatory approval. CN’s bid is more attractive for investors, but […]
Canadian Pacific CEO Keith Creel yesterday told a shipper group that his railroad can’t win a bidding war for Kansas City Southern. Creel also wouldn’t rule out cooperating with Canadian National and KCS on some level, and said that if CN and KCS were to merge, leaving CP as the smallest Class I railroad, CP […]
CP says its voting-trust proposal for KCS should be subject to different standards than CN proposal In its latest argument against Canadian National’s competing bid for Kansas City Southern, Canadian Pacific says CN is wrong to argue that the CN and CP proposals for placing KCS in a voting trust should be judged by the […]
MONTREAL — Canadian National could finalize a merger deal with Kansas City Southern in the next 30 to 40 days, executives said today. With the KCS board agreeing over the weekend to consider CN’s unsolicited $33.7 billion merger offer, CN tomorrow will begin poring over confidential KCS data and negotiating a final merger agreement. Rival […]
CALGARY, Alberta — A combined Canadian National and Kansas City Southern system would reduce railroad competition across wide swath of its expanded service territory, which would pose a regulatory challenge to a potential merger, Canadian Pacific CEO Keith Creel says. “The competition between KCS and CN is not limited to a ‘handful’ of shippers as CN […]
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 — The Surface Transportation Board ruled late Friday that it would apply its pre-2001 merger regulations in its consideration of the potential merger of Canadian Pacific and Kansas City Southern, granting the waiver specified for mergers involving KCS when new, stricter merger rules were adopted in 2001. In a 4-1 decision announced shortly before […]
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. […]
