Merger applicants Canadian Pacific (CP) and Kansas City Southern (KCS) are refuting the U.S. Department of Justice’s (DOJ) recent filing with the Surface Transportation Board (STB) questioning use of a voting trust and granting KCS an exemption under merger rules established about 20 years ago.
After a thorough review of my mergers and acquisitions career work, I have reached the conclusion that the Canadian Pacific-Kansas City Southern (“CPKC”) combination has several less-than-optimal locations where overall system performance affecting three nations—the U.S., Mexico and Canada—could be addressed and improved during Surface Transportation Board review.
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.
“Unripe.” That is what CSX and Norfolk Southern (NS) have called Amtrak’s application with the Surface Transportation Board (STB) asking for an order requiring the freight railroads to permit access for twice daily round-trip passenger service between New Orleans and Mobile, starting on or about Jan. 1, 2022.
The Surface Transportation Board has adopted a final rule in Demurrage Billing Requirements, Docket No. EP 759 establishing certain minimum information requirements for demurrage bills from Class I railroads, including among other things, billing cycle, shipment, car placement, and credit and debit information.
The Surface Transportation Board on April 5 adopted a final rule, EP 763, effective June 4, 2021, to amend railroad classification operating revenue thresholds.
CN and Watco have reached an agreement on the sale of rail lines in Northern Ontario, Wisconsin and Michigan, the companies reported March 30.
Colorado, Midland & Pacific Railway Co. (CMPR), a wholly owned subsidiary of Rio Grande Pacific Corp. (Rio Grande), will not be able to go forward with the Tennessee Pass Line revival as filed, according to a March 25 decision by the Surface Transportation Board (STB), but the decision leaves open the possibility of re-filing.
The U.S. Surface Transportation Board has ruled the CSX-Pan Am merger transaction a “significant” one subject to more formal review, along with a 10-month time clock on a final decision.
The Surface Transportation Board (STB) has designated a Chief Economist; HNTB named a Corporate President of Infrastructure and Mobility Equity; WSP USA hired Senior Directors for National Transit and Rail team; and Easy Aerial tapped a Chief Operating Officer.