Reading Time: 2 minutes Reuters — Canadian Pacific Railway said on Saturday it filed a formal objection with a U.S. regulator, stating Canadian National Railway’s near US$30 billion rival bid for Kansas City Southern does not qualify to be exempted from tougher merger rules. Last week, the U.S. Surface Transportation Board (STB) granted a waiver to CP’s $25 billion […] Read more
Tag Archives cp
CP files objection with U.S. regulator over CN’s Kansas City Southern bid
Cost index up for CN, down for CP in grain revenue formula
CP expects lower labour costs, CN higher
Reading Time: 2 minutes Expected labour costs were the major difference in a new ruling on the index that determines how much revenue each of Canada’s big two railways get to keep in the coming crop year from hauling Prairie grain. The Canadian Transportation Agency (CTA) on Thursday announced its decisions on the volume-related composite price index (VRCPI) for […] Read more
Rail shippers pick sides as CP, CN bid for Kansas City Southern
Richardson, Conagra among firms supporting both bids
Reading Time: 2 minutes Winnipeg | Reuters — North America’s freight rail customers, from grain shippers to logistics companies, are choosing sides as Canadian Pacific Railway and Canadian National Railway fight to buy Kansas City Southern. A takeout of KCS would be the first major North American railroad combination in more than 20 years and create the first network […] Read more
CP CEO rules out raising Kansas City Southern bid
CP's first-quarter profit climbs
Reading Time: < 1 minute Reuters — Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National’s offer is “not a real deal.” The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN […] Read more
CN challenges CP with Kansas City Southern bid
KCS shareholder warns U.S. regulator 'doesn't like overlap'
Reading Time: 3 minutes Reuters — Canadian National Railway said on Tuesday it had offered to buy Kansas City Southern railroad for about US$33.7 billion, sending shares of the U.S. rail company soaring as investors anticipated a bidding war with Canadian Pacific Railway. CP had agreed a deal to acquire Kansas City Southern for about $25 billion last month […] Read more
Record-level grain handles continue for CN, CP
Reading Time: < 1 minute MarketsFarm — Canada’s two largest railways both reported new highs in grain movement for March and for their first fiscal quarters. Canadian National Railway (CN) announced Monday it had moved 2.95 million tonnes of grain last month, beating the previous March record of 2.74 million transported last year. It was also the 13th straight month […] Read more
Canadian Pacific to buy Kansas City Southern in bet on trade
Biggest North American rail deal ever valued at US$25 billion
Reading Time: 4 minutes Reuters — Canadian Pacific Railway (CP) agreed on Sunday to acquire Kansas City Southern in a US$25 billion cash-and-stock deal to create the first railway spanning the United States, Mexico and Canada, standing to benefit from a pickup in trade. It would be the largest ever combination of North American railways by transaction value. It […] Read more
Railways to blame for terminal shortages, WGEA says
Grain handlers take issue with MarketsFarm report
Reading Time: 2 minutes MarketsFarm — The association representing the Prairies’ main grain handling companies says recent delays in loading vessels have less to do with the availability of grain and more to do with the railways hauling it to port. The Western Grain Elevator Association (WGEA), which represents major handlers such as Viterra, Richardson, Cargill and others, raised […] Read more
Grain shortage, cold snap cause delays at West Coast ports
'...the vessels continue to arrive'
Reading Time: 2 minutes MarketsFarm — Grain movement in Western Canada remains faced with significant difficulties, according to Mark Hemmes, president of Quorum Corp., which monitors rail traffic and vessel movements in Canada. February’s cold snap resulted in grain movement across the region falling below its three-year average. The most pressing issue has been a shortage of grain to […] Read more
Federal work/rest rules to be updated for railway workers
More clarifications coming, Teamsters say
Reading Time: 3 minutes A perennial sticking point in work stoppages and labour disputes at Canada’s two major railways is expected to be at least somewhat addressed within the next two and a half years. Federal Transport Minister Marc Garneau on Nov. 25 announced what’s billed as the first updates to the Duty/Rest Rules for Railway Operating Employees since […] Read more
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