CN

CN and NS officials said that this new service will provide customers with an integrated, market-competitive, and efficient all-rail service. And they added that this service will connect CN-served Canadian markets with Norfolk Southern-served Kansas City and Atlanta, which they referred to as the heart of the fast-growing manufacturing and consumer base in the Southeastern U.S.  

The respective pursuits of Class I railroad carrier Kansas City Southern (KCS) by Calgary-based Canadian Pacific Railway Company (CP) and its Canadian counterpart Montreal-based Canadian National have come to a stop on the tracks with CP and KCS announcing on September 15 they reached an agreement in which CP will acquire KCS for $31 billion, in a stock and cash transaction, which includes the assumption of $3.8 billion of outstanding KCS debt.

Coming in under the wire on its August 31 deadline, the Surface Transportation Board (STB) announced a unanimous decision today, in rejecting the use of a voting trust between Canadian National Railway (CN) and Kansas City Southern (KCS) regarding CN’s pending acquisition of KCS, which could hinder chances of a deal being completed.

The pending acquisition of Kansas City Southern (KCS) by Canadian National Railway (CN) was the focus on an announcement made today by the Surface Transportation Board (STB), with the STB saying today it is now considering a joint motion filed by CN and KCS, regarding approving the parties’ voting trust agreement.

Less than one week after Class I railroads CN and KCS said they reached a deal and entered into a definitive merger agreement, with CN acquiring KCS for $33.6 billion, which they said will “create the premier railway of the 21st century,” the companies announced today that they have made a joint filing with the Surface Transportation Board (STB).

After an ongoing theme of stops and starts and new developments, regarding the respective pursuits by Class I North of the Border railroads Canadian National (CN) and Canadian Pacific (CP) of Kansas City Southern (KCS), it appears that the train may be coming to a stop, with CN and KCS saying earlier today that they have reached a deal and have entered into a definitive merger agreement, which they said will “create the premier railway of the 21st century.”

The most recent development in the competition between Class I railroads Canadian National (CN) and Canadian Pacific (CP) over acquiring Kansas City Southern (KCS) came in the form of a decision made by the Surface Transportation Board (STB) on Monday, May 17, which dealt CN a setback in its pursuit of KCS. In its decision, the STB said that application of the waiver provision to the potential transaction between CN and KCS is not warranted.

Not long after Canadian National (CN) appeared to have the upper hand over its Canadian Class I railroad brethren Canadian Pacific (CP), in their respective efforts to acquire Kansas City Southern (KCS), the situation again has returned to something less definitive.

With both Class I railroads north of the border—Canadian Pacific CN—throwing their respective hats in the ring, with the objective of acquiring Kansas City Southern (KCS), CN said on Thursday night that after it submitting what it called an enhanced binding superior proposal agreement to the KCS Board of Directors that the KCS board has now determined that CN’s proposal is a “Company Superior Proposal.”

Momentum continues to roll down the tracks, with the final destination being an acquisition of Class I rail carrier Kansas City Southern. But the question remains as to whom will be the company that ends up driving that acquisition train. It comes down to the two Class I railways north of the border—Calgary-based Canadian Pacific (CP) or Montreal-based Canadian National (CN).

With another day comes another development in the pursuit of Kansas City Southern (KCS) by both Canadian National Railway Company (CN) and Canadian Pacific (CP), respectively.

With yesterday’s news that now the other Canadian Class I railway, Canadian National (CN) made an unsolicited offer to acquire Kansas City Southern (KCS), for $33.7 billion, following the previous announcement by its Canadian brethren, Canadian Pacific (CP) was set to acquire KCS for $29 billion, the current situation remains somewhat in a state of flux. But that has not stopped each railway from making their respective cases for acquiring KCS.

As the freight railroad sector ostensibly was awaiting the recently-proposed Canadian Pacific (CP) acquisition of Kansas City Southern (KCS) for $29 billion, which was announced in March, the chances of that deal—marrying two Class I railroads—making it to the final station are dealing with a new issue on the tracks, with the other Class I North of the border, CN, throwing its hat into the ring today, with what it called a “superior proposal,” for $33.7 billion.

Under the terms of the MOU, CN said it will acquire 50 zero-emission trucks, which will be allocated for its intermodal truck fleet and used in the company’s intermodal terminals in urban areas, with a focus on reducing greenhouse gas emissions (GHG).

Earlier today, Class I freight railroad carrier CN said it has reached a tentative agreement with the company’s 3,200 conductors and yard crews working on CN’s mainline and yards in Canada for a new collective agreement.