Last year, Canadian National Railway Co. dropped its rival takeover bid for KCS after the Surface Transportation Board rejected its request for a voting trust.
CP then agreed to buy KCS in an agreement valued at US$31 billion, including the assumption of US$3.8 billion of debt.CP’s deal closed in December, but the shares of KCS were placed into a voting trust that allows the U.S. railway to operate independently while the STB completes its review.CP has said its acquisition of KCS will enable significant growth for its rail customers, and allow for 60,000 truckloads annually to be shifted off public highways.
Following the completion of the transaction, CP expects the deal to generate $1 billion in annualized synergies within the first three years.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CP-KCS deal wins OK from foreign investment committee in U.S.Canadian Pacific Railway Ltd. says it has received regulatory approval from the Committee on Foreign Investment in the United States for its acquisition of Kansas City Southern.
Source: CHEK_News - 🏆 59. / 55 Read more »
CP-KCS deal wins OK from foreign investment committee in U.S. | Globalnews.caCanadian Pacific Railway Ltd. says it has received regulatory approval from the Committee on Foreign Investment in the United States for its acquisition of Kansas City Southern.
Source: GlobalNational - 🏆 81. / 51 Read more »
CP-KCS deal wins OK from foreign investment committee in U.S.Canadian Pacific Railway says it has received regulatory approval from the Committee on Foreign Investment in the United States for its acquisition of Kansas City Southern. This is huge and because it is a railway thing sort of falls under the radar somehow.
Source: CTVCalgary - 🏆 26. / 68 Read more »
CP Rail-Kansas City Southern deal wins approval from U.S. foreign investment committeeCanadian Pacific Railway Ltd. agreed to buy Kansas City Southern in an agreement valued at US$31 billion last year. Read more
Source: financialpost - 🏆 7. / 85 Read more »
CP Rail-Kansas City Southern deal wins approval from U.S. foreign investment committeeCanadian Pacific Railway Ltd. agreed to buy Kansas City Southern in an agreement valued at US$31 billion last year. Read more
Source: nationalpost - 🏆 10. / 80 Read more »