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.
