Cowen & Company hosted the Kansas City Southern (KCS) executive team in New York City last week for investor meetings. While challenges across
Mexico continue to hinder railroad operations, discussions with regulatory authorities appear to be moving in the right direction.
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) will assess environmental impacts of the proposed Canadian Pacific (CP)-Kansas City Southern (KCS) merger; it’s expected that the environmental review process will wrap up by fall 2022.
Canadian Pacific (CP) and Kansas City Southern (KCS) shareholders will have an opportunity to vote on the CP-KCS combination next month.
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.
Kansas City Southern (KCS) President and CEO Patrick J. Ottensmeyer has received a United States–Mexico Chamber of Commerce (USMCOC) 2021 Good Neighbor award.
Despite third-quarter 2021 supply chain challenges, Canadian Pacific’s (CP) “commitment to the foundations of precision scheduled railroading enabled us to respond quickly and effectively,” President and CEO Keith Creel said during the railroad’s earnings announcement on Oct. 20.
CN on Oct. 19 followed former merger partner Kansas City Southern (KCS) in reporting financial results for third-quarter 2021, posting C$3.591 billion in revenues—up 5% over the prior-year period; at the same time, CN announced President and CEO JJ Ruest’s planned retirement.
Kansas City Southern (KCS) on Oct. 19 was the first Class I to report third-quarter 2021 earnings. Revenue for the potentially merger-bound railroad—back with original suitor Canadian Pacific (CP)—came in at $744.0 million, growing 13% from the prior-year period ($659.6 million), but volumes fell.
Kansas City Southern (KCS) on Oct. 13 reported that Sameh Fahmy, Executive Vice President Precision Scheduled Railroading (PSR), will leave the company by year-end.