Amtrak is backing Canadian Pacific and Kansas City Southern’s proposed combination, Canadian Pacific Kansas City (CPKC), and CP is committing to support Amtrak’s service expansion in two U.S. regions, the railroads reported on Jan. 6.
Potential merger partners Canadian Pacific (CP) and Kansas City Southern (KCS) on Dec. 28 submitted their safety integration plan to the Surface Transportation Board (STB) and Federal Railroad Administration (FRA) for review, meeting the STB’s procedural schedule deadline.
Canadian Pacific (CP) on Dec. 14 completed its acquisition of Kansas City Southern (KCS); KCS shares have been placed into a voting trust until the Surface Transportation Board (STB) issues a decision on railroads’ proposed combination, Canadian Pacific Kansas City, which is expected in fourth-quarter 2022.
Railway Age on Dec. 9 announced that its 2022 Railroader of the Year Award goes to two exemplary and visionary North American rail industry leaders: Canadian Pacific President and Chief Executive Officer Keith Creel, and Kansas City Southern President and Chief Executive Officer Patrick J. Ottensmeyer.
In model railroading, there’s an annoying practice known as “rivet counting.” It involves people who have nothing better to do than finding fault with what someone else has created closely examining a painstakingly reproduced miniature (pick your scale—G, O, S, HO, N, Z—doesn’t matter) of a particular locomotive or car and finding some minuscule flaw, because the finished model doesn’t reproduce the actual equipment with 200% accuracy.
In two separate offerings, one in Canada, one in the United States, Canadian Pacific (CP) is issuing several billion dollars in debt to “indirectly fund, in part, the cash consideration required for the acquisition of common and preferred stock of Kansas City Southern (KCS) in connection with the CP-KCS transaction to create Canadian Pacific Kansas City (CPKC), North America’s first transnational Class I railroad.
The Surface Transportation Board (STB) has released a procedural schedule for the proposed transaction creating Canadian Pacific Kansas City (CPKC) and is inviting public comment.
It’s mainly procedural: On Oct. 29, Canadian Pacific and Kansas City Southern jointly filed a railroad control application with the Surface Transportation Board transaction to create Canadian Pacific Kansas City (CPKC), “the only single-line railroad linking the United States, Mexico and Canada.”
The Surface Transportation Board on Sept. 30 issued a decision essentially reaffirming that the Canadian Pacific-Kansas City Southern voting trust, which it approved on May 6, 2021, still stands. STB’s decision was not unanimous, however, with Member Robert Primus voicing the lone dissent.
“I am elated for our CP family,” an understandably energized Canadian Pacific President and CEO Keith Creel told Railway Age Editor-in-Chief William C. Vantuono the day after a joint call with analysts with his