Canadian Pacific Railway is the new owner of Kansas City Southern as of December 14, 2021, although KCS must continue to operate independently until the U.S. Surface Transportation Board approves the North American railway marriage. Upon closing of the US$31 billion deal on Tuesday, the shares of KCS were placed into a voting trust, and… Read More
Tag: CP Rail
CN Rail says that train movement has resumed on CN’s rail line on the Kamloops-Vancouver corridor, allowing movement of goods to and from the Vancouver port. “CN would like to thank first responders and all emergency management officials for their support and dedication throughout this ordeal,” the company says. “CN crews will continue to monitor… Read More
Trains could be rolling again on CP Rail tracks through southern B.C. as soon as the middle of this coming week, barring any unforeseen issues, according to the railway. Both CP and CN Rail’s critical main lines that connect the Port of Vancouver to rest of Canada have been closed due to damage from flooding… Read More
The west coast, Fraser Valley, and further inland at Merrit, B.C. and just to the south has faced two days of incredible rainfall flooding homes, submerging roads, and cutting deep ravines under highways and bridges. Images of stranded cattle and horses, flooded roads and neighbourhoods, and completely destroyed roads have dominated the news since Monday,… Read More
Canadian Pacific (CP) Railway’s plan to acquire Kansas City Southern (KCS) is one major step closer to becoming a done deal. The companies signed a merger agreement on Wednesday after rival Canadian National (CN) Railway waived its right to a five-day period to negotiate new terms with the coveted Kansas City-based railroad. The US$27.2 billion… Read More
Canadian Pacific (CP) Railway’s plan to acquire Kansas City Southern (KCS) and establish the first Canada-U.S.-Mexico railway is back on track after U.S. regulators blocked rival Canadian National (CN) Railway’s merger application late last month. The KCS board of directors announced on Sunday — the deadline given by CP in its offer — that it… Read More
Update, Sept 1: KCS has canceled the shareholder vote that was to be held Friday on whether to accept CN Rail’s offer. CN Rail’s preferred plan for taking over Kansas City Southern (KCS) has been blocked by U.S. regulators in a decision that’s being welcomed by rival suitor CP Rail. On Tuesday, the U.S. Surface… Read More
Both of Canada’s major railways say they moved a record amount of grain during the 2020-21 crop year, which wrapped up on July 31. CN Rail says it moved just over 31 million metric tonnes of Canadian grain and grain products in hopper cars, exceeding its previous record of 29.4 million tonnes set in the… Read More
Update, as of July 14: Both CN and CP once again halted traffic in the area around Lytton, B.C. on Wednesday due to new fires east of the community. “For the safety of our crews, we are not currently running trains between Kamloops and Lytton, B.C.,” says CN in a network update distributed July 14…. Read More
The federal transport minister has issued an order requiring Canada’s two main railways — Canadian National and Canadian Pacific — to implement a set of measures aimed at preventing further wildfires in southern B.C. and other parts of the country where fire risk is high. Minister Omar Alghabra issued the ministerial order on Sunday, following… Read More
Canadian National Railway (CN Rail) appears to have come from behind and taken the lead in the race with Canadian Pacific Railway (CP Rail) to merge with Kansas City Southern to form the first rail freight network to link Canada, the U.S., and Mexico. CN announced Thursday that it has revised its offer to merge… Read More
Canadian National (CN) Railway has announced a competing bid to combine forces with the Kansas City Southern (KCS) railway. CN says its offer represents a 21 per cent premium over the implied value of Canadian Pacific (CP) Railway’s existing agreement with KCS, which was announced in late March. The CP-KCS deal, which has already been… Read More
Canadian Pacific Railway (CP) is set to become the first rail freight network to link Canada, the U.S., and Mexico after announcing a US$25 billion stock and cash agreement to acquire Kansas City Southern (KCS) railway on Sunday. The enterprise value of the proposed deal, which has been approved unanimously by both railways’ boards of… Read More
Around 11 a.m. on February 21, 2021, a freight train carrying grain derailed east of Bow Island, Alta. The official reason for the derailment is unknown, but 80 to 100km/hr gusts were roaring their way through the province on Sunday, and could have been a factor in the derailment. CP Rail has said no employees… Read More
Canadian Pacific railway (CP) moved 31.32 million metric tonnes (MMT) of Canadian grain and grain products in 2020 — a record over any prior calendar year. The company was busy in the fourth quarter, where they moved 8.84 MMT. This beats the previous record by 5.1 per cent. Joan Hardy, CP vice-president of sales and… Read More