In a May 14 filing with the Surface Transportation Board, the United States Department of Justice has said CN’s application for a voting trust to acquire Kansas City Southern should be denied, because the proposed merger “raises sufficient competition concerns.”
Canadian Pacific President and CEO Keith Creel, Executive Vice President Operations Mark Redd and Executive Vice President and Chief Marketing Officer John Brooks discuss CP’s proposed merger with Kansas City Southern with
The activity involving Kansas City Southern and its two potential merger partners, Canadian Pacific and CN, took yet another turn late on May 13. CN appears to have come out on top, but don’t count CP out, at least not yet.
As Canadian Pacific and CN vie for a merger with Kansas City Southern, the letters of support for both potential transactions continue to pile up at the Surface Transportation Board. On May 10, it was CP’s turn to up its count, as it reported 131 new letters.
FINANCIAL EDGE, RAILWAY AGE MAY 2021 ISSUE: The scuffle between CP and CN to acquire Kansas City Southern requires comment. In the 2021 Railroad Financial Desk Book, it was noted that KCS’s
The Science Based Targets initiative (SBTi) has approved Kansas City Southern’s (KCS) greenhouse gas (GHG) emissions reduction targets that align with the Paris Agreement.
The letters continue! CN President and CEO JJ Ruest and COO Rob Reilly issued an open letter to the Kansas City Southern (KCS) community on May 3, regarding the railroad’s “superior proposal”
The merger dance that has been conducted since March 21 has morphed from the Waltz to the Mambo in “The Dance at the Gym” scene in “West Side Story” to the Twist.
The Surface Transportation Board (STB) has confirmed that it will review the proposed merger of Canadian Pacific (CP) and Kansas City Southern (KCS) under the waiver provision it granted KCS in 2001; Robert Primus, one of the five Board members, dissented.
A Cowen and Company “snap” railroad shipper survey conducted over a one-day period indicates that CN “is likely to have a more difficult time with shippers supporting its proposed acquisition of Kansas City Southern. This compares to a more favorable view by shippers of Canadian Pacific acquiring KCS in our most recent survey.”