BLET News

(Source: Kansas City Business Journal, May 26, 2021) KANSAS CITY, Mo. — Kansas City Southern’s board said Saturday that it will begin talks with Canadian National Railway Co. after finding that its offer for the company may lead to a better deal than that proposed by Canadian Pacific Railway Ltd. The announcement doesn’t mean that…

(Source: Railway Age, April 24, 2021) NEW YORK — As soon as the STB issued its decision granting Kansas City Southern a waiver from prevailing merger rules established about 20 years ago, KCS—following the terms of its existing merger agreement with Canadian Pacific—said it would now consider CN’s counter-offer. Full story: Railway Age Monday, April 26,…

(Source: Freight Waves, April 23, 2021) CHATTANOOGA, Tenn. — The chair of the House Transportation and Infrastructure Committee panned competing efforts by two Canadian railways to acquire Kansas City Southern, saying the offers threaten to usher in a new round of consolidations in the rail sector. In a Friday statement, Rep. Peter DeFazio, D-Oregon, said,…

(Source: Railway Age, April 22, 2021) NEW YORK — On Union Pacific’s April 22 1Q2021 earnings call, chief executive Lance Fritz was peppered with questions about the potential implications of Canadian Pacific or CN acquiring Kansas City Southern. Following is a transcript (edited for clarity) of Fritz’s responses to those questions. Full story: Railway Age Friday,…

(Source: Canadian Press, April 22, 2021) MONTREAL — The head of Canadian Pacific referred to its rival’s bid for Kansas City Southern as “fantasyland” as a war of words between Canada’s two largest railroads continue to head up. Full story: Estevan Mercury Friday, April 23, 2021