We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Battle continues for Kansas City Southern

Battle continues for Kansas City Southern

Canadian Pacific submits counter offer to CN deal; shareholders await STB decision.

2015-May.jpg
August 13, 2021
Victoria Kickham
No Comments
The tug-of-war between Canadian Pacific Railway (CP) and Canadian National (CN) for a merger with U.S. freight railway Kansas City Southern (KCS) continued this week, as CP offered a new merger proposal and KCS subsequently delayed a shareholder vote slated for later this month pending input from the U.S. Surface Transportation Board (STB).

On Tuesday, CP submitted an offer to acquire KCS in a stock and cash transaction of approximately $31 billion, saying the deal represents superior terms to its March merger proposal, which was ultimately rejected by KCS in favor of a $33.6 billion bid from CN. The CN/KCS deal is pending approval of its voting trust agreement from the STB, which has said it will issue its decision by August 31. KCS said Thursday it intends to adjourn its special meeting of shareholders slated for August 19 if the STB decision is not issued before August 17.

The moves mark yet another bump on the road to creating a continuous rail network spanning the North American continent and connecting Canada, the United States, and Mexico.

KCS also said Thursday that its board of directors unanimously determined that the proposal from CP does not constitute a superior proposal to its agreement with CN, and that the board continues to recommend shareholders vote for the proposed transaction with CN. Delaying the August 19 stockholder vote pending the STB decision will give “all shareholders and the Board time to receive and consider the STB decision,” KCS also said.

In a separate statement Thursday, CP officials applauded the move to delay the stockholder vote and reaffirmed its assertion that the CN/KCS deal would be anti-competitive.
Rail Rail Carriers
KEYWORDS Canadian National Railway Canadian Pacific Railway Kansas City Southern
  • Related Articles

    CN offers $33.7 billion to one-up rival’s bid for Kansas City Southern railway

    CN claims victory over rival railway in bidding war for Kansas City Southern

    Leathers, Ottensmeyer tapped for CEO positions at Werner, Kansas City Southern

Victoria kickham headshot
Victoria Kickham started her career as a newspaper reporter in the Boston area before moving into B2B journalism. She has covered manufacturing, distribution and supply chain issues for a variety of publications in the industrial and electronics sectors, and now writes about everything from forklift batteries to omnichannel business trends for DC Velocity.

Recent Articles by Victoria Kickham

Warehouse automation market set to grow, despite short-term pain ahead

Picking gets smart

Economy, technology take center stage at JumpStart

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • RJW LOGISTICS GROUP EXPANDS RETAIL LOGISTICS OPERATION TO DALLAS

  • Researchers: Ships can look to Mother Nature for energy-saving ideas

  • Maersk deploys indoor drones for warehouse inventory counts

Now Playing on DCV-TV

C8c3bc6b a91d 4181 a18f 35f288257630

ACPaQ: Fast and reliable automated mixed case palletizer

DCV-TV 4: Viewer Contributed
Fully Automated Mixed Case Palletizing ACPaQ is a universally applicable solution for fully automated order picking of mixed case pallets based on customers‘ requirements. Its software allows you to customize the palletizing order to increase efficiency during in-store replenishment. The mixed case palletizer...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing