Canadian National Railway Co., Ltd. CNI 0.26% Take the initiative in the race to win Southern Kansas City, KSU 2.50% It declared that the railroad operator’s bid for about $ 30 billion was better than its rivals’ proposal. Canadian National Railway on Tuesday offered to buy Kansas City Southern for $33.7 billion, topping a $29 billion bid put forward last month by … CN told the Surface Transportation Board last month that it intended to file a so-called responsive … Surface Transportation Board will approve Canadian See reviews, photos, directions, phone numbers and more for Canadian National locations in Kansas City, MO. Canadian National's nearly $30 billion acquisition of Kansas City Southern would create the only Canada-to-Mexico rail network in North America that could move Canadian crude exports to the US Gulf Coast and refined products to Mexico. The Kansas City Southern’s board thought differently, and on May 21 they announced that they were backing out of their agreement with Canadian Pacific and accepting Canadian National’s bid. Canadian National has written to the Board of Directors at Kansas City Southern, submitting its proposal. The new combined railroad … The September 12th acceptance of the Canadian Pacific’s (CP) $31 billion merger offer for the Kansas City Southern (KCS) initiated the KCS’ plans to terminate their merger agreement with the Canadian National (CN). Tickets on sale now for 2021 Concacaf Gold Cup matches at Children's Mercy Park. By Brian Kaberline. Billionaire Chris Hohn's TCI Fund Management nominated four independent directors to Canadian National's board, a day after Kansas City Southern divulged plans to accept a buyout offer from Canadian Pacific Railway Ltd. Canadian Pacific has offered $27.2 billion in a cash-and-stock deal, compared with Canadian National's $29.6 billion offer. UPDATE: Sept. 15, 2021: Canadian National said Wednesday it would not pursue a proposed merger with Kansas City Southern "any further," according to a press release. Canadian Pacific challenges Canadian National with $27 billion Kansas City Southern bid. Kansas City Southern had demanded the trust — a means to pay shareholders even before the deal gets a final antitrust nod — for any merger deal. “Our early commitment to eliminating the … The bidding for Kansas City started in April when Canadian Pacific first offered to buy the company, valuing it at $25 billion. MONTREAL and KANSAS CITY, Mo., May 21, 2021 (GLOBE NEWSWIRE) -- CN (TSX: CNR, NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that they have entered into a definitive merger agreement to create the premier railway for the 21 st century. Kansas City to host three U.S. Men’s National Team matches in 2021 Concacaf Gold Cup. The STB ruling could prod Kansas City Southern to rethink Canadian National’s offer and send the U.S carrier back into the arms of Canadian Pacific Railway Ltd. WASHINGTON — Canadian National is making a bold claim: It will take more trucks off the highway than what’s projected for the entire Canadian Pacific-Kansas City Southern merger if regulators force divestiture of the KCS line linking Springfield, Ill., and Kansas City. The Canadian railroad reiterated its main arguments for the deal in a detailed filing with the Surface Transportation Board on Tuesday, July 6, 2021. Shipping by Rail and Intermodal is efficient, reliable, cost effective & environmentally friendly. Canadian National Team Media Roundup: May 17-23, 2021. CN is your complete transportation and logistics solution. MONTREAL and KANSAS CITY, Mo., May 21, 2021 (GLOBE NEWSWIRE) -- CN (TSX: CNR, NYSE: CNI) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced that they have entered into a definitive merger agreement to create the premier railway for the 21 st century. Canadian National Railway Co. said Tuesday it bid $33.7 billion in cash and stock to acquire Kansas City Southern, an offer it said was stronger than the one its Canadian rival offered for the firm. Canadian National beats Canadian Pacific with $33.6B Kansas City bid. CN is your complete transportation and logistics solution. Under the terms of the … Washington, DC – Today, Chair of the House Committee on Transportation and Infrastructure Peter DeFazio (D-OR) sent a letter to the Surface Transportation Board (STB) opposing the approval of a trust for the proposed merger of the … (See our earlier reports on CP/Wabtec and KCS.) The Kansas City, Missouri, company said in a statement Sunday that it has notified rival bidder Canadian National that it intends to terminate a merger agreement and make a deal with Canadian Pacific. Canadian National wants the federal regulator overseeing the deal to condition its approval on the merged railroads divesting a stretch of … This report compares the performances of Canadian National Railway Company (CNI) and Kansas City Southern (KSU) stocks. The Canadian railroad overlaps with Kansas City Southern along roughly 70 miles (about 110 kilometers) in Louisiana of its 7,000-mile network and affects only five major customers, the company said. With the war having intensified this week, CN is focusing its donation on those Ukrainians who have been displaced by the Russian onslaught. Kansas City Southern shares surged 15.2% on Tuesday following news of the competing bid from Canadian National to close at $295.50 each. From the … This article is in your queue. Canadian National Railway Co. ’s $30 billion bid to buy Kansas City Southern ran into a major obstacle Tuesday, with regulators ruling the Canadian railroad won’t be permitted to complete a deal using a temporary voting trust that was a crucial part of the offer. Canadian National has also submitted a letter to the Surface Transportation Board. UPDATE: Sept. 15, 2021: Canadian National said Wednesday it would not pursue a proposed merger with Kansas City Southern "any further," according to a press release. Canadian National, Kansas City Southern to Merge. BY Fraser Tennant. Canadian National and Kansas City Southern to combine in $33.6bn deal. Sporting KC defender Tyler Pasher named to Canada Men's National Team ahead of June 13 friendly. Canadian National said that KCS and its shareholders were free to decide which of the two offers was preferable and CP was free to make a counter offer. In a much-anticipated move, Kansas City Southern KSU accepted the revised proposal of Canadian National Railway CNI on May 13. Mar 21, 2022. The proposed merger of Canadian Pacific and Kansas City Southern would create a 19,200-mile system spanning the Canada, U.S., and Mexico (Canadian Pacific) As Canadian Pacific and Canadian National continue their duel for control of Kansas City Southern, one topic keeps coming up: Why don’t the Canadian railways jointly acquire KCS and split it up? Canadian National has joined Canadian Pacific, Wabtec, and Kansas City Southern in donating to help Ukranian victims of the horrific war in their country. KANSAS CITY, Mo., September 15, 2021 – Kansas City Southern (NYSE: KSU) (“KCS”) today announced that the Company’s Board of Directors, in consultation with its financial and legal advisors, has … A Canadian National Merger with Kansas City Southern Would Worsen Chicagoland’s Congestion Problems May 14, 2021 By Mayor Sheila Chalmers-Currin, Village of Matteson The Chicago metro area is known as one of the most congested choke points for train traffic in North America - something those of us who live here know all too well. July 26, 2021 T&I Chair DeFazio Challenges Proposed Canadian National and Kansas City Southern Railroad Merger Trust. Railway group Canadian National has made a $33.7bn bid for Kansas City Southern, including debt, as it seeks to derail the deal the US group reached last … Canadian National offered to buy Kansas City for about $33.7 billion, trumping Canadian Pacific's buyout offer for the railroad operator. After reading this report, you will learn the differences in growth, annual returns, dividend payouts, splits, biggest gains etc. Railroad industry news about: CN, Canadian National, Canadian Pacific, CP, Surface Transportation Board, Kansas City Southern,. Canadian National has made its final pitch to regulators for preliminary approval of its $33.6 billion acquisition of Kansas City Southern railroad, a deal … The new railroad will be known as Canadian Pacific-Kansas City (CP-KC) with a 20,000-mile network, nearly 20,000 employees, and an annual revenue of about $8.7 billion. "We believe that Canadian Pacific's negotiated agreement with Kansas City is the only true end-to-end Class I combination that is in the best interests of North American shippers and communities," a CP spokeswoman said. – Editor, Kansas City Business Journal. Canadian National wants the federal regulator overseeing the deal to condition its approval on the merged railroads divesting a stretch of … The vote scheduled for Thursday was put on hold Tuesday while investors wait to hear whether the U.S. Canadian National, the railroad recently thwarted in its attempt to merge with Kansas City Southern (KCS), has submitted a notice of intent to file a responsive application with the Surface Transportation Board (STB). After sparring all summer over the acquisition, Canadian Pacific is now set to move forward with its $31 billion purchase of Kansas City Southern. The line is less than 0.7% of the about 27,000 route-miles the two companies operate, the Canadian operator said. The acquisition of Kansas City Southern by either of its Canadian peers would create the first direct railway linking Canada, the United States and Mexico. Canadian Pacific Chief Executive Keith Creel had refused to raise his previous $25 billion bid for Kansas City Southern after losing to Canadian National in May, arguing that the transaction that Kansas City Southern had chosen to pursue was "not a real deal" because the Surface Transportation Board (STB), the U.S. rail regulator, would shoot it down. Shipping by Rail and Intermodal is efficient, reliable, cost effective & environmentally friendly. Canadian National Seeks Line Divestiture as Part of the CP-KCS Merger. The declaration came after Panasonic agreed to add more shares to the proposal to cover the $ … The lockout at CP is the latest blow to Canada's battered supply chain, which last year weathered floods in British Columbia that suspended access to Canada's biggest port. However, a counterproposal by rival Canadian National nearly won the day. Kansas City Southern decided to will delay this week’s planned shareholder vote on Canadian National’s $33.6 billion offer to buy the railroad because regulators haven’t yet ruled on a key part of the acquisition plan. The deal awaits regulatory approval. Canadian National said Wednesday that Kansas City Southern would pay it a $700 million termination fee as well as $700 million in the refund for … Canadian National, which is based in Montreal, bid an estimated $33 billion to combine with Kansas City Southern, which is based in Kansas City. Canadian National Withdraws Merger Plans with the Kansas City Southern. Under the terms of its merger agreement with Canadian National, … May 25, 2021 in Mergers/Acquisitions. Both Kansas City Southern and Canadian National operate rails that run north and south through the center of the country, which Canadian Pacific believes would create antitrust issues in a merger. Canadian Pacific first put forward a roughly $29 billion bid for Kansas City Southern in March, before being topped by a $33.7 billion offer from its rival, Canadian National, in … Canadian Pacific had clinched a cash-and-stock deal with Kansas City Southern valued at around $275 a share, or $25 billion. In a merger intended to create a premier railway for the 21st century, railway company Canadian National and transportation holding company Kansas City Southern are to combine in a deal valued at $33.6bn. Canadian National Railway has said it will divest Kansas City Southern’s 70-mile rail line between New Orleans and Baton Rouge to eliminate overlap between the two railroad operators. It has agreed to pay a $1 billion fee to Kansas City Southern were the STB to shoot down their deal. A Canadian National locomotive goes through the Canadian National Taschereau yard in Montreal, Saturday, Nov. 28, 2009. Canadian Pacific's sweetened $300 per share offer consists of $90 in cash and 2.884 of its shares for each share of Kansas City. Canadian Pacific has been hoping that purchasing Kansas City Southern would narrow a size gap with Canadian National and match its T-shaped network, which spans Canada and drops down through the U.S. to the Gulf of Mexico. Canadian National said it was willing to match the terms of Canadian Pacific's offer for Kansas City Southern. Canadian National beats Canadian Pacific with $33.6B Kansas City bid. The Canadian National Railway Company (French: Compagnie des chemins de fer nationaux du Canada) (reporting mark CN) is a Canadian Class I freight railway headquartered in Montreal, Quebec, which serves Canada and the Midwestern and Southern United States.. CN is Canada's largest railway, in terms of both revenue and the physical size of its rail network, spanning … Canadian National has made its final pitch to regulators for preliminary approval of its $33.6 billion acquisition of Kansas City Southern railroad. Shares of … Canadian National Railway Co. ’s $30 billion bid to buy Kansas City Southern ran into a major obstacle Tuesday, with regulators ruling the … The new combined railroad … Canadian National is offering to buy Kansas City Southern for $33.7 billion, topping a $25 billion bid from rival Canadian Pacific. Without the acquisition, Canadian Pacific would be isolated in Canada. Canadian National already has large U.S. operations, adding its Chicago-New Orleans line with the purchase of Illinois Central Railroad in 1998. A bidding war is breaking out for Kansas City Southern, with Canadian National Railway making a $33.7 billion cash-and-stock offer for the railway. Canadian Pacific outmaneuvered Canadian National railroad to complete the deal it first announced in March even though Canadian … The timeframe of analysis is between '12-17-2011' and '12-14-2021'. Canadian Pacific Chief Executive Keith Creel had refused to raise his previous $25 billion bid for Kansas City Southern after losing to Canadian National in May, arguing that the transaction that Kansas City Southern had chosen to pursue was "not a real deal" because the Surface Transportation Board (STB), the U.S. rail regulator, would shoot it down. Canadian Pacific had agreed a deal to acquire Kansas City Southern for about $25 billion last month. Canadian National Railway more than $30B planned purchase of Kansas City Southern (KSU) is more likely to be rejected by the U.S regulator, survey says. Canadian National Railway Co. took the lead in the race to acquire Kansas City Southern , which declared the railroad operator’s roughly $30 billion takeover bid … Find 3 listings related to Canadian National in Kansas City on YP.com. (Reuters) -Canadian National said on Tuesday it had offered to buy Kansas City Southern railroad for about $33.7 billion, sending shares of the U.S. company soaring as investors anticipated a bidding war with Canadian Pacific. Canadian National has said it will divest Kansas City Southern’s 70-mile (115 km) rail line between New Orleans and Baton Rouge to eliminate overlap between the two railroad operators. Canadian National to resume buyback after abandoning Kansas City deal. Three days after KCS announced that it believed CP had made a “superior” offer and that its other suitor had five days to make a better one, CN officials announced that they would not be making another proposal. 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