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OMAHA, Neb. (AP) — Canadian National has made its final pitch to regulators for preliminary approval of its $33.6 billion acquisition of Kansas City Southern railroad.
The Canadian railroad reiterated its main arguments for the deal in a detailed filing with the Surface Transportation Board on Tuesday.
OMAHA, Neb. (AP) — Canadian National railroad plans to address competitive concerns related to its $33.6 billion acquisition of Kansas City Southern by selling off a short section of rail line.
Canadian National CEO JJ Ruest said he believes selling 70 of the 27,000 miles of track the two railroads own will help it get regulatory approval for the deal.
NEW YORK (AP) — Kansas City Southern has abandoned its agreement to be acquired by Canadian Pacific, choosing instead a competing bid from Canadian National Railway with a bigger price tag, but also greater regulatory risks.
OMAHA, Neb. (AP) — Canadian Pacific is urging Kansas City Southern to reject Canadian National's rival $33.6 billion takeover bid, but it still refuses to increase its own $25 billion bid.
Canadian Pacific maintained Thursday that Canadian National's bid won't be approved by regulators because it would hurt competition and add to rail congestion around Chicago, so CEO Keith Creel doesn't see a need to increase its offer.
OMAHA, Neb. (AP) — Canadian National railroad is indicating it remains committed to its $33.6 billion acquisition of Kansas City Southern, despite reservations from one major shareholder and a regulatory setback.
OMAHA, Neb. (AP) — A major Canadian National shareholder is urging the railroad to abandon its $33.6 billion bid to buy Kansas City Southern after regulators dealt the deal a procedural setback this week.
OMAHA, Neb. (AP) — Regulators on Monday dealt a procedural blow to Canadian National's $33.6 billion plan to acquire Kansas City Southern railroad.
The U.S. Surface Transportation Board rejected Canadian National's plan to set up a voting trust that would acquire Kansas City Southern and own the railroad while regulators review the deal.