Insights and Stories on Surface Transportation Board

May. 18, 2021 at 5:44 pm CDT

Reuters — Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railway changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn’s TCI Fund Management, which has a 2.93 […]

By Reuters

May. 14, 2021 at 6:36 pm CDT

Reuters — The U.S. Department of Justice said on Friday that Canadian National Railway’s bid for U.S. railway operator Kansas City Southern appears to pose greater risks to competition than a rival agreement with Canadian Pacific Railway. The development comes as KCS on Thursday accepted CN’s $33.6 billion acquisition offer, […]

By Reuters

May. 13, 2021 at 3:49 pm CDT

Reuters — U.S. railway operator Kansas City Southern said Thursday it had accepted Canadian National Railway’s $33.6 billion acquisition offer, upending a $29 billion deal with its competitor Canadian Pacific Railway. The development, first reported by Reuters, gives CP five business days to make a new offer for Kansas City […]

By greg-roumeliotis

May. 2, 2021 at 11:37 pm CDT

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 […]

By Reuters

Mar. 22, 2021 at 1:31 am CDT

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 […]

By Ann Maria Shibu, Nandakumar D, Rebecca Spalding