North America’s financial services industry saw a drop of 25% in deal activity during April 2022, when compared with the last 12-month average, led by Bolt Financial’s $1.5bn acquisition of Wyre, according to GlobalData’s deals database.
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A number of rail shipping groups and four out of five Class I railroads are asking the Surface Transportation Board (STB) to examine the proposed merger of Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) under a “new” litmus test of whether the merger would enhance market competition versus adversely affecting it.
Shippers’ takeIn a Thursday filing to the board, the Freight Rail Customer Alliance, National Coal Transportation Alliance and Private Railcar Food and Beverage...
Dennis Manns is the executive vice president of North Motors Group, which advises automotive OEMs and logistics supplier groups. The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.
By Dennis Manns
It is an important time for rail customers to think critically and play the long game. Recently, Canadian Pacific (NYSE: CP) announced that it would acquire Kansas City Southern (NYSE: KSU) [KCS], triggering review by the
https://www.freightwaves.com/news/viewpoint-greenlight-the-pro-shipper-cp-kcs-combination
Canadian Pacific’s (NYSE: CP) proposed acquisition of Kansas City Southern (NYSE: KSU) will result in new service lanes across North America, the heads of both companies asserted in a Sunday afternoon call to investors explaining the proposed transaction.
Both companies announced Sunday morning that CP would seek to acquire KCS in a deal worth $29 billion, pending approval from the Surface Transportation Board. The U.S. agency could finish its review process in mid-2022.
The merger would connect...
https://s29755.pcdn.co/news/railroad-megamerger-could-be-boom-for-shippers
Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) are planning to merge in a deal worth US$29 billion. CP says the acquisition will “create enhanced competition and better service for customers” while also fostering North American economic growth.
The acquisition will include an assumption of $3.8 billion in outstanding Kansas City Southern (KCS) debt. The merger also has the unanimous support of both boards of directors, according to CP.
The approval is pending approval from the S...
https://s29755.pcdn.co/news/breaking-canadian-pacific-intends-to-acquire-kansas-city-southern
CSX (NASDAQ: CSX) will buy short line Pan Am Railways after all.
The Eastern U.S. railroad said Monday that it has signed a definitive agreement to acquire the railroad. Financial terms weren’t disclosed.
CSX has been considering purchasing the New England short line for weeks, according to reports.
CSX says Pan Am’s subsidiaries make Pan Am the largest regional railroad in North America. The short line operates nearly 1,200 miles of track across New England, with access to multiple ports and...
https://www.freightwaves.com/news/csx-confirms-plans-to-acquire-pan-am-railways
Ocean research non-profit ProMare and IBM (NYSE:IBM) have announced the completion and launch of the Mayflower Autonomous Ship (MAS) – an AI and solar powered marine research vessel which will traverse oceans gathering vital environmental data, says an article published in IBM website.
Following two years of design, construction and training of its AI models, the new fully-autonomous trimaran was today lifted into the waters off the coast of Plymouth,...
https://mfame.guru/mayflower-autonomous-ship-to-change-ocean-data-collection/