GFM Network News


A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

U.S. regulator rejects CN’s voting trust to buy Kansas City Southern

CP rips CN's play as 'illusory and not achievable'

Reuters — The U.S. rail regulator on Tuesday rejected a voting trust structure that would have allowed Canadian National Railway (CN) to proceed with its US$29 billion proposed acquisition of U.S. peer Kansas City Southern. The decision was a blow to the deal that would create the first direct railway linking Canada, the U.S. and […] Read more

A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

Kansas City Southern sticks with CN as CP won’t raise bid

CN confident of regulatory approval

Reuters — Kansas City Southern on Friday reiterated that Canadian National Railway’s offer was “superior” after Canadian Pacific Railway refused to raise its bid, moving a step closer to creating the largest-ever merger of North American railways by transaction value. The Canadian rivals have been locked in a takeover battle for the U.S. railroad operator […] Read more


CN locomotives in Winnipeg. (Photo courtesy CN)

CN shareholder urges changes to Kansas City Southern deal

Fund manager also holds stake in CP

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 per cent stake in CN, […] Read more

A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

CN bid for U.S. railway poses greater risk to competition, DOJ says

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, upending the $29 billion deal […] Read more


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



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

U.S. rail regulator tackles railroads over customer complaints

Reuters — The top U.S. rail regulator has asked major railroads for information on service levels before meeting disgruntled shippers and other customers over complaints about service delays and higher costs. In letters to the CEOs of the railroads, dated Friday and posted Monday on the U.S. Surface Transportation Board’s (STB) website, the regulator requested […] Read more

(CSX.com)

CSX customers demand end to shipping bottlenecks

Reuters — The head of No. 3 U.S. railroad CSX promised on Wednesday to improve service as companies such as Cargill demanded greater accountability and fewer delays, criticizing an overhaul CSX launched six months ago. Customers have complained of longer transit times, unreliable switching operations, inefficient car routings and poor communications with CSX customer service. […] Read more



(NSCorp.com)

CP scraps plans to buy Norfolk Southern

Reuters — Canadian Pacific Railway said on Monday it had scrapped efforts to buy Norfolk Southern, almost six months after it launched its unsolicited US$28 billion bid for the fourth-largest U.S. railroad operator. The announcement comes days after the U.S. Justice Department urged the Surface Transportation Board to reject a voting trust arrangement CP had […] Read more