CN and KCS reach merger deal while CP Rail still seeks regulatory OK as backup - Business News castanet.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from castanet.net Daily Mail and Mail on Sunday newspapers.
Regulatory approval still needed for merger agreement. By
5/21/2021 Canadian National (CN) and Kansas City Southern (KCS) railroad companies today announced they have entered into a definitive merger agreement. Though still under review by federal regulators, the KSC and CN merger creates an express route that connects the U.S., Mexico, and Canada with a seamless single-owner, single-operator service, and preserves access to all existing gateways to enhance route choices and ensure robust price competition, according to a CN press release. For perspective, KSC, the Kansas City, Missouri-based company, is the smallest of all major freight railroads in the U.S. It operates on a rail system that stretches over 3,400 miles from the Midwest to Mexico.
Ross Marowits
In this Nov. 5, 2004 file photo, the logo of Kansas City Southern is down on a restored 1954 Kansas City Southern passenger locomotive at Union Station in Kansas City, Mo. THE CANADIAN PRESS/AP-Norman Ng/The Kansas City Star via AP May 21, 2021 - 9:56 AM
Kansas City Southern has formally backed a merger offer from Canadian National Railway Co. but Canadian Pacific Railway Ltd. says will still seek regulatory approval for its rival offer in case the CN deal is unable to proceed.
The agreement between CN Rail and the U.S. railways was unanimously approved by each company s board of directors. It comes a day after CP Rail said it wouldn t increase its offer for KCS.
Readers, I got a late start
again. I will add more shortly. –lambert
Bird Song of the Day
The Changeable Hawk-Eagle. (I confess I’ve been choosing these eagles because of their names, but their songs have been really various.)
#COVID19
At reader request, I’ve added this daily chart from 91-DIVOC. The data is the Johns Hopkins CSSE data. Here is the site.
I feel I’m engaging in a macabre form of tape-watching. All the charts are becoming dull approaching nominal, if you accept the “new normal” of cases, for example.
Still upward movement.
“Pentagon push has more US servicemembers getting vaccinated” [FOX News]. “Now 71% of troops surveyed say they have gotten the vaccine or plan to do so. Only 39% of active-duty spouses say they plan to get vaccinated – which could be a problem as hundreds of thousands of troops and their families plan to move to new bases this summer. If the 600,000 troops and their families don’t get vaccinated before their
Kansas City Southern agrees to US$30B CN Rail deal bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.