CN is seeking to generate CA$700 million in additional operating income in 2022 through cutting labor and operational costs and seeking pricing opportunities.
Kansas City Southern returns to its old flame and opts to merge with Canadian Pacific. Rival railway CN acknowledges its merger plans have been scrapped.
Major CN shareholder TCI Fund Management wants CN’s board to have more operational experience. The company is also still pushing for the removal of CN’s current CEO.
Kansas City Southern is returning to its original merger partner after federal regulators rejected CN’s proposed voting trust, which would’ve been used to acquire KCS.
Kansas City Southern shareholders pushed back a vote on whether to approve CN’s merger agreement to Sept. 24.
Kansas City Southern shareholders must decide whether to continue to pursue merger plans with CN or go with Canadian Pacific.
The Surface Transportation Board rejected CN’s application to establish a voting trust, which would be used as part of the process to acquire Kansas City Southern.
KCS’ board of directors confirmed plans to postpone the shareholder vote on the CN-KCS merger agreement until after the Surface Transportation Board renders a decision on CN’s proposed voting trust.
Although Canadian grain shippers anticipate lower grain harvest volumes for the 2021-2022 crop year, adequate rail service remains a chief concern.
The Association of American Railroads responds to regulator’s inquiry about supply chain congestion, while GoRail advocates for regulation supporting freight rail industry growth.
Kansas City Southern declined Canadian Pacific’s revised bid, opting to stick with CN. But a shareholder vote to approve the CN-KCS merger agreement could be held off if the Surface Transportation Board doesn’t issue its decision on CN’s voting trust by Tuesday.
CP is offering a stock-and-cash “superior proposal” worth an estimated US$31 billion.
Canadian Pacific and CN shattered records for hauling Canadian grain and grain products in the 2020-2021 crop year, which ran from Aug. 1, 2020, to July 31, 2021. More efficient network boosted volumes: CP CP (NYSE: CP) hauled 30.62 million metric tons (MMT), the most in its 140-year history, the railroad said Tuesday. That was […]
Kansas City Southern told its shareholders to focus on the proposed CN-KCS merger transaction and not on Canadian Pacific’s attempts to cast doubt on the merger’s chances of being approved by federal regulators.
SMART-TD must negotiate with Class I railroads on train crew size; Rail Customer Coalition calls on STB to take up reciprocal switching; ASLRRA praises progress on infrastructure bill; and Canadian Pacific urges KCS shareholders to vote against the proposed CN-KCS merger.
Rep. Peter DeFazio, D-Ore., doesn’t want federal regulators to approve a voting trust that Canadian railway CN would establish as part of the process to acquire Kansas City Southern.
Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.
Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.
With 39 ships at anchor, the Port of Vancouver is continuing to feel the strain as CP and CN resume service in a fire-afflicted region of British Columbia.
The reduction in train speeds between Kamloops and Boston Bar is designed to lessen the chances that sparks from a freight train could start a fire amid extreme heat and dry conditions.
