Transportation board approves railroad merger between Canadian Pacific, Kansas City Southern

U.S. Surface Transportation Board approved a controversial merger between the Canadian Pacific and Kansas City Southern railroads Wednesday but imposed conditions reflecting opposition from communities and other railways.

Metra, members of Illinois' congressional delegation and numerous suburbs fought the plan warning of gridlock at crossings and potential derailments.shifting approximately 64,000 truckloads annually from North America's roads to rail, and will support investment in infrastructure, service quality, and safety," officials said.

"The transaction is also expected to drive employment growth across the CPKC system, adding over 800 new union-represented operating positions in the United States." CP's $31 billion acquisition would create an intercontinental freight railroad stretching from Mexico to Canada. Canadian Pacific predicts the move will create jobs and move goods faster, but The Coalition to Stop CPKC -- which includes DuPage County, Bartlett, Bensenville, Elgin, Itasca, Hanover Park, Roselle, Wood Dale and Schaumburg argued it would slow first responders. A Feb. 3 derailment of a Norfolk Southern train in East Palatine, Ohio, raised the merger stakes for opponents.

Canadian Pacific CEO Keith Creel has previously called the deal a"once-in-a-lifetime partnership to create the first U.S.-Mexico-Canada rail network. This is a transformative opportunity for CP, for KCS, and for the North American economy." A spokesman said recently that"CP remains committed to working with communities as we advance through this process and looks forward to receiving the STB's decision.

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Railroad merger draws increased scrutiny in wake of Ohio derailmentA proposed $31 billion freight railroad merger that would create a single rail line connecting the United States, Mexico and Canada is taking extra heat in the aftermath of a train derailment that spilled toxic chemicals in northeast Ohio. I'm willing to show 10 lucky people on how to earn 0.90 BTC ($15,000)and more daily. No withdrawal fee You don't have to send funds to anyone Interest PM
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Federal regulators approve merger expected to bring more freight trains to Chicago areaFederal regulators have approved a major rail merger expected to bring more freight trains through parts of the Chicago area, despite concerns raised by Metra, suburban towns and Illinois members of Congress.
مصدر: chicagotribune - 🏆 8. / 91 اقرأ أكثر »

First major US railroad merger in 2 decades will go forwardThe way has been cleared for the first major railroad merger in more than two decades after federal regulators approved Canadian Pacific’s $31 billion acquisition of Kansas City Southern. They need a third company for this merger so it can be announced by Gordon Lightfoot. Timing is… interesting? Nationalize the rail
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Will federal regulators approve controversial railroad merger? Answer expected WednesdayAfter months of debate, the U.S. Surface Transportation Board is expected to rule on railroad merger opposed by multiple suburbs. Canadian Pacific seeks to acquire Kansas City Southern railroads.
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