Continuing its hostile pursuit of Norfolk Southern, and faced with some stiff political and rail industry opposition in the U.S., Canadian Pacific on Feb. 3, 2016 released a white paper, CP-NS: A Comprehensive Approach to Regulatory Approval “detailing the comprehensive, merit-based process any merger application would be subject to at the Surface Transportation Board,” CP said.
Chairman Daniel R. Elliott on Feb. 2, 2016 announced that the Surface Transportation Board (STB) will be posting monthly status reports of its implementation of S.808, the STB Reauthorization Act of 2015, P.L. 114-110 (2015).
Everything is out in the open, as it should be. Today (January 8, 2016), the Surface Transportation Board established a page on its website, “Major Railroad Mergers and Consolidations Correspondence,” that contains all the correspondence connected to the proposed merger of Canadian Pacific and Norfolk Southern. The correspondence is in PDF form and can be downloaded by anyone.
On January 5, 2016, Reuters published a story containing excerpts of letters reportedly sent to the Surface Transportation Board by industry groups representing several major Norfolk Southern freight customers. The letters ask the STB to reject a merger of Canadian Pacific and NS, should a merger application be filed. We contacted the STB for copies of those letters and came up empty.
Reuters, which originally broke the story late last year about Canadian Pacific’s targeting of Norfolk Southern for acquisition before CP officially announced it, has published excerpts of several letters to the Surface Transportation Board from industry groups representing several major NS freight customers. The letters ask the STB to reject a merger application.
The U.S. Surface Transportation Board on Dec. 28, 2015 issued two interrelated decisions—a Notice of Proposed Rulemaking (NPRM) and Proposed Policy Statement (PPS)—proposing revised definitions and policy guidance for passenger train on-time performance and preference. The STB is seeking public comment on the proposals, both of which would affect Section 213 of the Passenger Rail Investment and Improvement Act of 2008 (PRIIA) as codified at 49 U.S.C. § 24308(f).
As Canadian Pacific continues to pursue a merger with Norfolk Southern, CP CEO Hunter Harrison sent a response to the members of the Illinois Congressional delegation (all Democrats) who sent a letter to the Surface Transportation Board on De. 14, 2015 expressing concerns about the potential transaction.
The Surface Transportation Board (STB) on Dec. 17, 2015 announced the addition of the Rail Heritage Map to its online Railroad Map Depot created and maintained by the STB’s Office of Environmental Analysis (OEA) for public use and research. Supported by ArcGIS Online (Esri), the Railroad Map Depot is a cloud-based platform featuring a number of maps maintained by OEA.
December 7, 2015: A day that will live in infamy for anyone attempting to follow the volley of legalese and rhetoric being tossed about by Canadian Pacific and Norfolk Southern as CP attempts to marry up with NS in what may be beginning to look more and more like a shotgun wedding officiated by The Rev. Bill Ackman.*
In response to the proposed merger between Canadian Pacific Railway (CP) and Norfolk Southern Corporation (NS), U.S. Senator Dick Durbin (D-Ill.) on Dec. 14, 2015 sent a letter signed by Democratic members of the Illinois Congressional Delegation to the Surface Transportation Board (STB) urging the agency to carefully consider the potential negative impact of the proposal on Illinois’ freight network. In the letter, the legislators requested careful review of the possible effects of CP’s proposed acquisition of NS on Illinois communities and businesses, particularly those in and around Chicago.
