Auxo Investment Partners explains rationale for why it chose to invest in rail service providers.
Canadian Pacific has formally completed its acquisition of Kansas City Southern, and now both companies are waiting for the Surface Transportation Board to approve the merger.
TFI International expands its U.S. temperature-controlled business with the acquisition of Missouri trucking firm D&D Sexton.
Two agencies in Mexico have given their approval of the proposed merger between Canadian Pacific and Kansas City Southern.
Canadian transportation and logistics firm Manitoulin Group expands in western Canada with acquisitions of Diamond Delivery and First Canadian Messenger.
The STB is allowing the merger application of Canadian Pacific and Kansas City Southern to proceed as is, rejecting Union Pacific’s concerns over the application’s completeness.
The railroad says CP’s and KCS’ traffic diversion analysis is incomplete, and so the board should compel CP and KCS to revise its merger application.
Private trucking fleets expand amid soaring spot rates According to a recent National Private Truck Council Report, private fleets continue to expand due to high spot market rates and dwindling capacity in the market. Less capacity equals less service, and service metrics remain a big driver for in-house transportation. For large common carriers (they haul […]
Canadian Pacific and Kansas City Southern submit a joint application before the Surface Transportation Board asking to consolidate the two railroads while CN adds a rail and technology expert to its board.
Canadian trucking and logistics firm XTL Group expands into the U.S. with the acquisition of Georgia freight brokerage CBT.
GLS has agreed to acquire Rosenau Transport for $288 million in a deal that creates a freight and parcel network across Canada.
The board affirms its previous approval of Canadian Pacific’s voting trust application.
Pent-up demand is making its way to the surface in 2021; this year has seen an explosion in M&A activity due to the large amount of money available from strategics, private equity and venture capitalists.
The Canada Pension Plan Investment Board has agreed to become the owner of the largest U.S. terminal operator, Ports America, in a deal with Oaktree Capital Management
El mercado para la compra y venta de proveedores logísticos a terceros y corredores de carga está al rojo vivo, según los banqueros de inversión de Capstone Partners, Burke Smith y Nathan Feldman.
Capstone Partners explains why brokerages are so expensive.
CN is seeking to generate CA$700 million in additional operating income in 2022 through cutting labor and operational costs and seeking pricing opportunities.
Expanding intermodal, grain and automotive offerings would be part of the growth strategy pursued by a merged Kansas City Southern-Canadian Pacific.
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.
Canada Cartage makes its fourth acquisition of 2021 with the addition of Rapid Delivery, a Canadian carrier specializing in dedicated domestic and cross-border freight.
Automotive trade platform TRADE X has acquired vehicle export specialist Techlantic after raising $45 million over the summer.
Kansas City Southern shareholders pushed back a vote on whether to approve CN’s merger agreement to Sept. 24.
Stakeholders and observers such as Amtrak, Canadian Pacific and the Vermont Department of Transportation want the Surface Transportation Board to consider placing conditions that would bolster both competitive access and passenger rail service.
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.
Cervus Equipment is set to be acquired by Brandt Tractor in a $240 million deal that will take the Canadian Peterbilt dealer private.
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.
“Industry veterans are even surprised by what’s going on right now,” said Moore.
CP is offering a stock-and-cash “superior proposal” worth an estimated US$31 billion.
Houston-based Patriot Transit is a flatbed carrier serving customers on the Gulf Coast and in the southwestern U.S.
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.
The Surface Transportation Board has accepted CSX’s revised application to acquire Pan Am Railways, allowing the acquisition proceedings to continue.
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.
CSX hopes an expanded application containing a more in-depth market analysis will persuade the Surface Transportation Board to approve CSX’s request to acquire Pan Am.
Mullen Group acquires Harris Transport, the latest in a string of deals for one of Canada’s largest trucking and logistics companies.
One of Canada’s largest trucking and logistics firms, Mullen Group, is entering the U.S. market with a $40 million acquisition of Chicago-area freight brokerage QuadExpress from commercial printing company Quad.
Canadian Pacific and CN note the end of the public comment period for CN’s proposed voting trust, which would be used to acquire Kansas City Southern. But in order for regulators to review the voting trust application, the Surface Transportation Board may need to clarify further the parameters for gauging whether a rail merger is in the public interest, some stakeholders say.
Monday is the last day that stakeholders can express their views to the Surface Transportation Board over CN’s proposed voting trust that will be used to acquire KCS. Canadian Pacific says it has the support of North Dakota congressional leaders, while CN touts support from Gulf Coast and southern Plains leaders.
Canadian Pacific and CN each say they have the backing of Upper Midwest grain shippers as both seek to merge with Kansas City Southern.
CN and Canadian Pacific are rounding up support for their respective plans to acquire Kansas City Southern. Regulators are accepting public comments on CN’s voting trust through next Monday. CN would use the voting trust as part of the process to acquire KCS.
CN continues to insist that it has widespread support for its plans to acquire Kansas City Southern. That support includes the voting trust proposal that CN would use as part of the merger process.
TFI International quietly buys Montreal-area trucking and logistics firm Procam International to expand its network.
The Surface Transportation Board is accepting public comments on CN’s and Kansas City Southern’s voting trust proposal. KCS asserts its financial strength while Canadian Pacific circulates a union’s negative feedback on the CN-KCS merger.
The transaction, arranged by CVC Capital Partners, is set to close in the third quarter.
Former Surface Transportation Board Vice Chairman William Clyburn Jr. recommends that STB approve the voting trust proposed by CN and Kansas City Southern.
A trio of shippers groups, CN, Kansas City Southern and Canadian Pacific offer their takes on whether the voting trust associated with the proposed CN-KCS merger is or isn’t in the public interest.
The American Chemistry Council, which represents chemicals shippers, wants the Surface Transportation Board to scrutinize proposed Class I rail mergers to ensure that shippers don’t encounter reduced offerings.
CSX needs more data in its market analysis, the Surface Transportation Board said. CSX plans to resubmit its application.
To sweeten the voting trust application before regulators, CN and Kansas City Southern are offering to divest 70 miles of a KCS line in an area of Louisiana where both railroads have competing lines in order to create an “end-to-end” network.
Kansas City Southern has opted for CN’s merger offer. It is terminating an existing merger agreement it has with Canadian Pacific.
Canadian Pacific wants Kansas City Southern to reject CN’s competing merger offer. The railway also said it won’t engage in a bidding war.
Following the Surface Transportation Board’s decision on Monday regarding CN’s proposed merger with Kansas City Southern, both CN and Canadian Pacific remained confident that each is the better suitor for KCS.
The Surface Transportation Board has decided that it would review a proposed merger between CN and Kansas City Southern under newer, stricter merger rules. The board also denied for now CN’s request to form a voting trust, saying CN’s application is incomplete.
CN revised its bid to acquire KCS; CP said it will not seek to counterbid.
Rivals Canadian Pacific and CN separately submit more statements of support to the Surface Transportation Board in a bid to show which Canadian railway is best suited to merge with Kansas City Southern.
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.
Canadian trucking and logistics firm TFI International has completed its $800 million acquisition of UPS Freight, becoming one of the top less-than-truckload providers in North America.
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.
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.
The Surface Transportation Board will need to scrutinize a proposed merger between Kansas City Southern and either Canadian Pacific or CN to ensure it doesn’t hurt the operations of competing railroads, Union Pacific’s head said on the company’s first-quarter earnings call.
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.
Canadian Pacific and CN both filed letters to the Surface Transportation Board asking the panel to consider the merits of their competing requests to acquire Kansas City Southern.
CP, which is also seeking to acquire KCS, describes rival CN’s bid to acquire KCS as “massively complex and likely to fail” because it decreases competition.
A merged CN and Kansas City Southern would compete against long-haul trucking for north-south intermodal opportunities, CN said Tuesday.
Not to be outdone by rival Canadian Pacific, CN offers to acquire Kansas City Southern for $33.7 billion.
Canadian trucking giant Mullen Group wades into truck sales after acquiring a small Volvo and Mack dealership as part of the acquisition of British Columbia’s Bandstra Group.
The U.S. Department of Justice raised concerns about how Canadian Pacific and Kansas City Southern are using a voting trust to facilitate their proposed merger. The two railroads respond.
An understanding between European truck maker IVECO and self-driving software maker Plus includes liquified natural gas but not electric trucks.
Canadian Pacific submitted to the Surface Transportation Board 45 more letters of support from shippers and other stakeholders for the proposed merger of CP and Kansas City Southern.
Two rail shipper coalition groups and four Class I railroads want the Surface Transportation Board to review Canadian Pacific’s proposed acquisition of Kansas City Southern under “new” rules that gauge whether a merger would enhance market competition.
Canadian Pacific has submitted a 531-page filing to the Surface Transportation Board that includes letters from 259 entities supporting the proposed acquisition of Kansas City Southern.
CSX must again file its plans to acquire New England short line Pan Am Railways as a “significant” transaction.
Canadian Pacific wants to acquire Kansas City Southern. Here are five thoughts from Wall Street transportation analysts about the transaction.
STB Chair Marty Oberman shares the board’s views on two proposed acquisitions: CSX’s acquisition of New England short line Pan Am Railways and Canadian Pacific’s merger with Kansas City Southern.
Load board adds more enterprise-level automation to its compliance offering.
Canadian Pacific and Kansas City Southern executives outline the benefits and the rationale behind CP’s proposed acquisition of KCS.
Canadian railway Canadian Pacific plans to merge with Kansas City Southern in a deal worth $29 billion.
Amazon.com Inc. bought Whole Foods Market Inc. on Aug. 28, 2017, for $13.7 billion, following up with changes to the grocery brand.
Supply chain software provider Descartes Systems Group has “sold more stuff than we’ve ever sold before” in recent quarters, its CEO says as revenue and profits soar.
The $3.7B merger of Navistar and TRATON Group drew nearer Tuesday when Navistar shareholders approved a $44.50-per-share buyout.
Eastern U.S. railroad CSX (NASDAQ: CSX) has started the regulatory process to acquire New England short line operator Pan Am Railways in a move that CSX hopes will strengthen its intermodal presence in the region. The company on Thursday submitted its application to the Surface Transportation Board. The application includes a request both to acquire […]
Agent-based MODE will add a growthy in-house operation.
Cross-border trucking and logistics firm XTL buys Quebec-based Transport Savoie as Canadian mergers and acquisitions activity reaches fever pitch.
Titanium Transportation Group becomes one of the largest trucking companies in Canada after acquiring International Truckload Services.
TFI International CEO Alain Bedard praised the partnership of UPS and the Teamsters and signaled his company’s willingness to work with unions ahead of the UPS Freight acquisition. But will it work?
TFI International has agreed to buy UPS Freight for about $800 million in its largest acquisition to date.
Bison Transport, one of Canada’s largest trucking companies, has been acquired by Canadian agricultural and industrial conglomerate James Richardson & Sons.
Capstone Headwaters releases December update on logistics technology deals.
AIT Worldwide Logistics is expanding its international footprint with the purchase of a German freight forwarder.
TorQuest Partners buys VersaCold Logistics Services, a major Canadian cold storage provider with a large cross-border trucking operation.
The freight-forwarding arm of Canada’s Manitoulin Group has bought Chicago-based World Wide International Logistics, its third acquisition in the United States.
AIT Worldwide Logistics expands its global operations with the acquisition of final-mile white-glove specialist Panther Logistics.
Canada-based maritime terminal operator QSL becomes full owner of Transport Watson & Sycamore, a heavy-haul trucking company based in Quebec.
Flatbed carriers Hornady Transportation and Builder’s Transportation Co. announce the completion of their merger. The deal is part of parent company Daseke’s operational overhaul.
Canadian supply chain software firm Descartes Systems Group expands its final-mile offerings with acquisition of ShipTrack.
