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Canadian Pacific and Kansas City Southern combination approved by U.S. Surface Transportation Board
Canadian Pacific and Kansas City Southern combination approved by U.S. Surface Transportation Boa...
About this update from Canadian Pacific Kansas City Limited
[{"type":"text","content":"\n \n \n \n Canadian Pacific and Kansas City Southern combination approved by U.S. Surface Transportation Board\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CP reviewing details of 212-page decision authorizing control of KCS on or after\n \n April 14\n \n \n \n \n \n \n CALGARY, AB\n \n and\n \n KANSAS CITY, MO\n \n \n ,\n \n \n March 15, 2023\n \n \n /CNW/ - Canadian Pacific (TSX: CP) (NYSE: CP) (\"CP\") and Kansas City Southern (\"KCS\") said today the U.S. Surface Transportation Board (\"STB\") issued a decision approving the CP and KCS joint merger application, subject to certain conditions, thereby authorizing the two railways to combine to form Canadian Pacific Kansas City (\"CPKC\"), the first single-line railway connecting the U.S.,\n \n Mexico\n \n and Canada.\n \n \n The decision authorizes CP to exercise control of KCS as early as\n \n April 14, 2023\n \n , at or after which point CP and KCS would combine to create the new CPKC. CP is reviewing the full 212-page decision in detail and in the coming days will announce its plans with respect to the creation of CPKC.\n \n \n CP President and Chief Executive Officer\n \n Keith Creel\n \n extended the company's sincere gratitude to the STB board and staff for their hard work as part of the comprehensive review of the combination.\n \n \n \"This decision clearly recognizes the many benefits of this historic combination,\" Creel said. \"As the STB found, it will stimulate new competition, create jobs, lead to new investment in our rail network, and drive economic growth.\n \n \n \"These benefits are unparalleled for our employees, rail customers, communities and the North American economy at a time when the supply chains of these three great nations have never needed it more,\" Creel added. \"A combined CPKC will connect\n \n North America\n \n through a unique rail network able to enhance competition, provide improved reliable rail service, take trucks off public roads and improve rail safety by expanding CP's industry-leading safety p...