Kansas City Southern de Mexico

American Chemistry Council urges caution on Class I mergers

A photograph of tank cars rolling down a railroad track.

Chemicals shippers want the Surface Transportation Board (STB) to thoroughly mull over service impacts before agreeing to any merger between Kansas City Southern (NYSE: KSU) and another Class I railroad.

The American Chemistry Council (ACC) “is concerned about further consolidation in the freight railroad industry. Past mergers between Class I railroads have concentrated railroad market power and diminished the ability of rail customers to access competitive rail service,” ACC said in testimony...

https://www.freightwaves.com/news/american-chemistry-council-urges-caution-on-class-i-mergers

CN and KCS seek to divest 70 miles of track in Louisiana

A composite image of two train locomotives.

Canadian railway CN (NYSE: CNI) and Kansas City Southern (NYSE: KSU) plan to divest of about 70 miles of Kansas City Southern (KCS) track in Louisiana as part of the effort to secure regulatory approval to merge and create an “end-to-end” network that spans from Canada to Mexico.

The proposal to divest of the track is part of CN’s and KCS’ application before the Surface Transportation Board (STB) to form a voting trust as part of the merger process. The board is responsible for overseeing the...

https://www.freightwaves.com/news/cn-and-kcs-seek-to-divest-70-miles-of-track-in-louisiana

Kansas City Southern chooses CN bid, terminates CP merger agreement

A composite image of two train locomotives.

Kansas City Southern (NYSE: KSU) has made it official: It’s breaking up with Canadian Pacific (NYSE: CP) and it’s going with the merger offer from CP rival CN (NYSE: CNI).

The board of directors for Kansas City Southern (KCS) unanimously determined last week that CN’s offer to acquire KCS was “superior.” 

But Friday’s announcement seals the deal. As a result, KCS has terminated its merger agreement with CP and has entered into a merger agreement with CN.

The agreement calls for each share of KCS...

https://www.freightwaves.com/news/kansas-city-southern-chooses-cn-bid-terminates-cp-merger-agreement

Unions, industry observers weigh in on KCS merger bids

Rail stakeholders and observers are weighing in on how competing attempts by Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) to merge with Kansas City Southern (NYSE: KSU) might affect the freight rail industry. 

Both CN and CP are seeking to acquire Kansas City Southern (KCS). CP and KCS had announced in March plans to merge, prior to CN announcing in April that it is also interested in acquiring KCS. 

CP and CN are also both Canadian railways, and each merger proposal with KCS would create a...

https://www.freightwaves.com/news/unions-industry-observers-weigh-in-on-kcs-merger-bids

CP signals no counterbid, asks KCS board to reject CN

A composite image of three photographs of train locomotives.

Canadian Pacific (NYSE: CP) is asking the board of directors of Kansas City Southern (NYSE: KSU) to reject a competing merger offer from CN (NYSE: CNI) once and for all. The company has also indicated that it will not seek to compete with CN’s revised offer.

Both CN and CP are seeking to acquire Kansas City Southern (KCS). CP and KCS had announced in March plans to merge, prior to CN announcing in April that it is also interested in acquiring KCS. 

CP and CN are also both Canadian railways, and...

https://www.freightwaves.com/news/cp-signals-no-counterbid-asks-kcs-board-to-reject-cn

CN, CP respond to rail regulator’s decision on CN-KCS merger

The Surface Transportation Board’s decision on Monday to hold Canadian railway CN’s (NYSE: CNI) petition to acquire Kansas City Southern (NYSE: KSU) to a higher regulatory standard has emboldened both CN and rival Canadian Pacific (NYSE: CP).

Both CN and CP are seeking to acquire Kansas City Southern (KCS). CP and KCS had announced in March plans to merge, prior to CN announcing in April that it is also interested in acquiring KCS. 

CP and CN are also both Canadian railways, and each merger...

https://www.freightwaves.com/news/cn-cp-respond-to-rail-regulators-decision-on-cn-kcs-merger

DOJ asks regulators not to approve CN-KCS voting trust

A photograph of a Kansas City Southern train traveling through a grassy field.

Citing competition concerns, the U.S. Department of Justice (DOJ) is asking the Surface Transportation Board (STB) not to approve a request by Canadian railway CN (NYSE: CNI) to form a voting trust. The voting trust would be used to acquire Kansas City Southern (NYSE: KSU).

CN is seeking to establish a voting trust as a way to protect Kansas City Southern (KCS) from being taken over as STB reviews CN’s request to merge with KCS. The board had approved a similar request by CN rival Canadian...

https://s29755.pcdn.co/news/doj-asks-regulators-not-to-approve-cn-kcs-voting-trust

News Alert: Kansas City Southern intends to accept ‘superior’ CN proposal

A photograph of a Kansas City Southern train.

Kansas City Southern (NYSE: KSU) has made its decision: it plans to merge with Canadian railway CN (NYSE: CNI). 

Upon receipt of a revised acquisition proposal from CN, Kansas City Southern (KCS) has decided to deem that proposal as “superior.” 

By accepting CN’s proposal, KCS would have to break up proposed merger plans between itself and CN’s rival Canadian Pacific (NYSE: CP). CP has said it will not counterbid.

CN’s revised proposal calls for each share of KCS common stock to be exchanged for...

https://s29755.pcdn.co/news/news-alert-kansas-city-southern-intends-to-accept-superior-cn-proposal

Canadian Pacific, CN continue to lobby for merger support

A photograph of a CN train traveling through a field.

Rivals Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) are still at work seeking to convince the Surface Transportation Board (STB), industry stakeholders and Kansas City Southern (NYSE: KSU) shareholders which Canadian railway is the best company suited to merge with Kansas City Southern (KCS).

CP and KCS had announced plans to merge in March, while CN said in April that it is also interested in acquiring KCS. Both CP and CN are Canadian railways, and they propose that a merger with KCS would...

https://s29755.pcdn.co/news/canadian-pacific-cn-continue-to-lobby-for-merger-support

Regulators approve CP’s and KCS’ request to form pre-merger voting trust

A photograph of rail equipment that has a Kansas City Southern logo on it.

The Surface Transportation Board (STB) has determined that Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) can proceed with establishing a voting trust as a way to protect Kansas City Southern (KCS) and its shareholders during the merger process.

CP and KCS had announced plans to merge in March, while CP rival CN (NYSE: CNI) said in April that it is also interested in acquiring KCS. Both CP and CN are Canadian railways, and they propose that a merger with KCS would create a...

https://www.freightwaves.com/news/regulators-approve-cps-and-kcs-request-to-form-pre-merger-voting-trust

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