The Surface Transportation Board has approved the voting trust that Canadian Pacific and Kansas City Southern plan to make as part of the merger process between the two companies.
CN and Canadian Pacific continue to campaign for the hearts and votes of Kansas City Southern stakeholders and the Surface Transportation Board.
Executives with parent company Berkshire Hathaway expect BNSF to take steps to protect the railroad’s franchise as the merger between Kansas City Southern and one of the Canadian railways makes its way through regulatory review.
CN outlined some scenarios in which a merged railway can compete with long-haul trucking.
The Canadian railway CN and Kansas City Southern have agreed to talk about CN’s acquisition bid. Canadian Pacific, which has a competing offer, acknowledges the meeting. CN also submits letters of support from stakeholders to regulators.
In today’s edition, we highlight a Biden administration thumbs-up to trucking’s role in electric vehicle expansion, an upcoming general strike at the Port of Montreal and more.
The Surface Transportation Board has determined that a waiver that exempted Kansas City Southern from post-2001 merger rules governing rail mergers applies in the proposed merger between KCS and Canadian Pacific.
Rep. Peter DeFazio, D-Oregon, chair of the U.S. House Transportation and Infrastructure Committee, is concerned that efforts by rival Canadian railways to acquire Kansas City Southern could usher in more consolidations in the freight rail sector.
With a Canadian Pacific and Kansas City Southern merger, grain shippers in the Dakotas will have a real single-line option to reach their end markets rather than having to rely solely on UP or BNSF, says former U.S. Sen. Byron Dorgan.
For now, Canadian Pacific is not planning to take part in a bidding war with rival CN to acquire Kansas City Southern, saying that its offer is more likely to meet regulators’ litmus test for mergers.
