WASHINGTON — Canadian Pacific has rebutted Justice Department criticism of its proposed acquisition of Kansas City Southern, telling the Surface Transportation Board that the $29 billion merger can’t happen without a voting trust. The Justice Department on Monday raised concerns about CP’s plan to place KCS into a voting trust while the STB reviews the […]
WASHINGTON — The Justice Department on Monday questioned Canadian Pacific’s plans to put Kansas City Southern into an independent voting trust while the railroads’ proposed merger is under regulatory review. But the railroads, in a separate filing to the Surface Transportation Board on Monday evening, defended their merger, the voting trust, and their request to […]
Will Canadian Pacific’s proposed acquisition of Kansas City Southern be the spark that ignites the final round of railroad consolidation in North America? It’s a question that’s been coming up since CP and KCS announced their blockbuster $29 billion deal on March 21. Most analysts agree that CP+KCS won’t lead to the creation of two […]
Any way you look at it, Canadian Pacific’s proposed acquisition of Kansas City Southern is a blockbuster deal. It creates the first railroad to link the U.S., Mexico, and Canada. It gives shippers from both railroads more single-line service options. And it will boost competition – with other railroads and, more importantly, trucks – in […]
CP, KCS say 45 more entities have filed statements of support for merger Canadian Pacific and Kansas City Southern says 45 more customers, ports, and other entities have filed statements with the Surface Transportation Board supporting their planned merger, bringing the number supporting the proposal to more than 300. In a press release, the railroads […]
KANSAS CITY — With the recent announcement that Canadian Pacific is acquiring Kansas City Southern, railfans will no doubt be heading to the KCS to capture the last days of the smallest of the Class I railroads. But where should you go to catch the action on such a vast system? Here’s a few highlights, […]
Death toll reaches 50 in Taiwan derailment; construction supervisor arrested, released on bond At least 50 are now dead as a result of Taiwan’s worst train crash in 70 years, which occurred Friday when an express train hit a truck that had slid down an embankment from a building site. Reuters reports the manager of […]
WASHINGTON — BNSF Railway, Canadian National, and Union Pacific have joined Norfolk Southern in asking federal regulators to apply the more stringent 2001 merger review rules to Canadian Pacific’s proposed acquisition of Kansas City Southern. As the smallest Class I, KCS received a waiver from the current merger review rules, and CP and KCS have […]
WASHINGTON — Several trade associations, a major agricultural shipper, and Norfolk Southern today asked the Surface Transportation Board to review Canadian Pacific’s proposed acquisition of Kansas City Southern under the more stringent 2001 merger rules. CP and KCS have said they would seek to have the merger reviewed under the old rules, although executives contend […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern have rounded up broad support for their proposed merger, which would create the first railroad to operate in the U.S., Canada, and Mexico. The railways announced yesterday that they have received support statements from 259 shippers, other railroads, economic development authorities, and ports. Shipper sentiment will […]
WASHINGTON — Canadian Pacific’s proposed acquisition of Kansas City Southern has picked up its first support from another railroad company. Shortline railroad operator Genesee & Wyoming has told the U.S. Surface Transportation Board that it backs the merger of the smallest Class I systems. “From our perspective, the proposed transaction should provide improved service options […]
WASHINGTON — A major shipper group plans to challenge the waiver that would permit Canadian Pacific’s proposed acquisition of Kansas City Southern to be reviewed under the Surface Transportation Board’s old, less restrictive merger rules. The National Industrial Transportation League said today that the CP-KCS deal would ultimately harm rail competition. “Based on the significant loss […]
