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Kansas City Southern

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business2 years ago

US Regulators Approve First Major Railroad Merger in Decades Despite Antitrust Concerns

The U.S. Surface Transportation Board has approved Canadian Pacific's $31 billion acquisition of Kansas City Southern, marking the first major railroad merger in more than two decades. The new railroad will link the United States, Canada, and Mexico, and is expected to add more than 800 new union jobs in the U.S. The merger is also expected to foster the growth of rail traffic, shifting approximately 64,000 truckloads annually from North America's roads to rail, and will support investment in infrastructure, service quality, and safety.

via PBS NewsHour|
#business#canadian-pacific#kansas-city-southern
business2 years ago

US Regulator Approves $31B Merger of Canadian Pacific and Kansas City Southern Railroads.

The Surface Transportation Board of the United States has approved Canadian Pacific's $31 billion acquisition of Kansas City Southern, subject to environmental and competition conditions. The deal will create the first railroad providing a single-line service spanning Canada, the United States, and Mexico. The acquisition is expected to add 800 new unionized operational jobs in the United States and will shorten the average length of trains by just under 20%. The new direct service will facilitate the flow of grain from the Midwest to the Gulf Coast and Mexico, the movement of intermodal goods between Dallas and Chicago, and trade in automotive parts, vehicles, and other goods between the United States and Mexico.

via CNBC|
#business#canadian-pacific#kansas-city-southern
business2 years ago

Canadian Pacific and Kansas City Southern Merger Defies Antitrust Push.

The Surface Transportation Board has approved the merger of Canadian Pacific Railway and Kansas City Southern, creating a freight rail system linking North America. The deal is the first major rail merger in over two decades and will connect the United States, Mexico, and Canada, covering more than 20,000 miles of track. The board laid out conditions to protect competition and mitigate effects on communities, and the combined company will be called Canadian Pacific Kansas City. The merger is expected to foster growth of rail traffic, support passenger operations, and shift freight from highways to rail, ultimately resulting in greater safety and benefits to the environment.

via The Washington Post|
#business#canadian-pacific-railway#kansas-city-southern
business2 years ago

Canadian Pacific-Kansas City Southern Merger Approved by U.S. Regulators

The Surface Transportation Board has approved Canadian Pacific's acquisition of Kansas City Southern, creating the first railroad providing single-line service spanning Canada, the United States, and Mexico. The merger will shift about 64,000 truckloads a year to rail from the roads and add more than 800 new union operating positions in the United States. The deal is worth nearly $32 billion and is the first merger between two major railroads since the 1990s. The decision came amid mounting pressure to reject the deal, but the transportation board found that the merger would not reduce competition.

via The New York Times|
#business#canadian-pacific#kansas-city-southern