GFM Network News



A freight train at Manchac, La., about 75 km east of Baton Rouge. (CN.ca)

Kansas City Southern accepts new CN bid over CP’s

CN offers to cover KCS's breakup fee with CP

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 Southern. Were CP to table […] Read more



(Kansas City Southern video screengrab via YouTube)

Rail shippers pick sides as CP, CN bid for Kansas City Southern

Richardson, Conagra among firms supporting both bids

Winnipeg | Reuters -- North America's freight rail customers, from grain shippers to logistics companies, are choosing sides as Canadian Pacific Railway and Canadian National Railway fight to buy Kansas City Southern. A takeout of KCS would be the first major North American railroad combination in more than 20 years and create the first network […] Read more


(File photo by Dave Bedard)

CP CEO rules out raising Kansas City Southern bid

CP's first-quarter profit climbs

Reuters -- Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National's offer is "not a real deal." The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN […] Read more

A freight train at Manchac, La., about 75 km east of Baton Rouge. (CN.ca)

CN challenges CP with Kansas City Southern bid

KCS shareholder warns U.S. regulator 'doesn't like overlap'

Reuters -- Canadian National Railway said on Tuesday it had offered to buy Kansas City Southern railroad for about US$33.7 billion, sending shares of the U.S. rail company soaring as investors anticipated a bidding war with Canadian Pacific Railway. CP had agreed a deal to acquire Kansas City Southern for about $25 billion last month […] Read more


(File photo by Dave Bedard)

Canadian Pacific to buy Kansas City Southern in bet on trade

Biggest North American rail deal ever valued at US$25 billion

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 railways by transaction value. It […] Read more