KCS Stockholders to Vote on Merger Proposal
Kansas City Southern (KCS) stockholders will vote on the railroad’s proposed combination with CN on Aug. 19.
KCS
CN, KCS File Voting Trust Reply. Next Move: STB’s
Proposed merger partners CN and Kansas City Southern (KCS) have submitted to the Surface Transportation Board (STB) a reply to comments filed on the railroads’ voting trust agreement. They detailed why the trust should be approved. KCS rival merger partner Canadian Pacific (CP) is unconvinced.
KCS Issues Sustainability Report
Kansas City Southern (KCS) on July 1 released its sustainability report for 2020, focusing on three key areas: “delivering prosperity, valuing people and protecting the planet.”
KCS, Midstream Texas Operating Team on Transloading
Kansas City Southern (KCS) and Midstream Texas Operating LLC (MTO) on June 29 reported their long-term agreement to provide truck-to-rail transloading services for petroleum and petrochemicals from Corpus Christi, Tex., into Mexico.
Amtrak Opposes CN-KCS Voting Trust
Amtrak has asked the Surface Transportation Board (STB) to reject CN’s use of a voting trust in its proposed combination with Kansas City Southern (KCS). The passenger railroad’s comments were filed June 28, along with those from Canadian Pacific (CP), KCS’ rival merger partner.
CP to STB: We Have More Letters (Updated)
Canadian Pacific (CP) has reported that another 80 stakeholders have filed statements with the Surface Transportation Board (STB) “expressing concerns” about the proposed CN-Kansas City Southern (KCS) merger, its use of a voting trust, or both.
Divided Union Support for CN-KCS Voting Trust
CN and Kansas City Southern (KCS) on June 23 cited four letters by rail labor filed with the Surface Transportation Board (STB) in support of their proposed voting trust. Three of those letters, from local general committees of the same union, contradict the international’s position.
Commentary
Why CN’s Open Gateways Offer is a Big Deal
CN’s offer to keep gateways open on commercially reasonable terms is not getting the attention that it is due. This offer is a key part of its proposal to combine with Kansas City Southern—a transaction that significantly enhances competition.
For CN-KCS Merger Proposal, Support Growing
CN and Kansas City Southern (KCS) have reported receiving an additional 100 letters in support of their proposed merger, bringing the total to more than 1,500.
Commentary
Suds with Seidl: ‘Railroad Happy Hour’ Offers Bullish Outlook
Trends across the rail industry appear positive, although ongoing congestion is an issue for inland ramps, according to leaders at our recent “Suds with Seidl” event.