CP Rail, Kansas City Southern merge to create Canadian Pacific Kansas City
, marks the continent’s first major railroad rail merger in more than two decades.
It combines the two smallest of North America’s seven Class 1 railroads, after the U.S. rail regulator approved the US$31-billion deal last month.That green light cleared the final hurdle in CP Rail’s bid to buy KCS and create the only railway stretching from Canada through to the U.S. and Mexico. U.S. Surface Transportation Board chair Martin Oberman said in March the combined company will speed up freight travel time and encourage tighter competition with the other five, larger railways.CP competitor Canadian National Railway Co. had fought a long battle over the acquisition before CP sealed the deal in December 2021. CN had wooed KCS away from an initial CP offer with a US$33.6-billion proposal in May 2021 before the U.S. regulator rejected CN’s bid in August of that year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Pacific and KCS officially combine under Canadian Pacific Kansas City banner - BNN BloombergCanadian Pacific Railway and Kansas City Southern have officially combined to create Canadian Pacific Kansas City.
Read more »
CP Rail and KCS officially combine under Canadian Pacific Kansas City bannerShares in the railway will remain listed on the Toronto Stock Exchange and New York Stock Exchange under the ticker symbol CP and are expected to begin trading under the new name on April 18
Read more »
CP Rail and KCS officially combine under Canadian Pacific Kansas City bannerCanadian Pacific Railway and Kansas City Southern have officially combined to create Canadian Pacific Kansas City. Read more
Read more »
CP Rail and KCS officially combine under Canadian Pacific Kansas City bannerCanadian Pacific Railway and Kansas City Southern have officially combined to create Canadian Pacific Kansas City. Read more
Read more »
UFC Kansas City Beforemath: Can Max Holloway Overcome a Southpaw?Blaine Henry gives an illustrated, frame-by-frame analysis of the fantastic main-event striking battle of UFC on ESPN 44 on Saturday in Kansas City.
Read more »