Canadian Pacific (CP) and Kansas City Southern (KCS) submitted a filing to the Surface Transportation Board (STB) asserting what they say is their “right” to have their merger reviewed under a waiver the STB granted to KCS in 2001.
Several shipper trade associations, a major agricultural shipper and four of the remaining five North American Class I railroads have asked the Surface Transportation Board to review Canadian Pacific’s proposed acquisition of Kansas City Southern under the more stringent 2001 merger rules. A few argue that the smallest Class I rail carrier, KCS, should not get a “gentle pass” STB review. As to the merger itself, most support it, with a few notable exceptions.
The majority of shippers participating in Cowen and Company’s survey on the proposed Canadian Pacific (CP)/Kansas City Southern (KCS) merger have a positive view of the transaction, and merger synergies “look promising,” according to the firm, which released results March 29.
The recent merger agreement between Canadian Pacific Railway (CP) and Kansas City Southern (KCS) offers a unique opportunity to fuel economic growth across North America while reducing freight congestion, helping the environment, and strengthening competition in the freight transport marketplace.
Early on March 21, the big announcement came: Canadian Pacific Railway will acquire Kansas City Southern in a cash and stock transaction worth $29 billion in U.S. dollars. The combined Class I
Canadian Pacific Railway Ltd. (CP) will acquire Kansas City Southern (KCS) in a cash and stock transaction worth US$29 billion, the two Class I railroads announced early March 21. The combined entity will be named Canadian Pacific Kansas City (CPKC).
Rail industry leaders were bullish on the quarter-to-date at the latest “Suds with Seidl” event, with one panelist citing a spring surcharge for containers, underlying the strong rate backdrop for carriers.
As part of a special series in Railway Age’s March 2021 issue, 11 North American railroad CEOs address the daunting challenges the freight rail industry faces as the 21st century enters its third decade—from operations and technology to marketing and growth. Here, Pat Ottensmeyer, President and CEO of Kansas City Southern, discusses realizing the full benefits afforded by the new United States-Mexico-Canada Agreement.
MidRail LLC Chairman Gil Lamphere and Watco CEO Dan Smith are joining an expert panel sharing growth strategies at Railway Age’s Next-Gen Freight Rail 2021, to be held virtually March 10.
Union Pacific Chairman, President and CEO Lance Fritz will lead an expert panel sharing rail growth strategies at Railway Age’s Next-Gen Freight Rail 2021, to be held virtually March 10.