The U.S. Surface Transportation Board has issued its long-awaited decision on the merger of Canadian Pacific Railway and Kansas City Southern, authorizing the combination of the two railways to form the first railway connecting Canada, the U.S., and Mexico. The 212-page decision includes many conditions, but will allow CP to take control of KCS, forming… Read More
Tag: Kansas City Southern
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
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
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