Regulator approves merger of CP and KCS railways
20.03.2023
The U.S. Surface Transportation Board approved the merger of Canadian Pacific (CP) and Kansas City Southern (KCS) First Class North American railroads. It has already been announced that the combined rail company will be named Canadian Pacific Kansas City (CPKC) and the deal will close on April 14, 2023. The CPKC network will directly connect the three countries of Canada, the United States and Mexico. Railway Supply magazine writes about this with reference to zdmira.
Canadian Pacific Railroad finalizes $31 billion purchase of Kansas City Southern in September 2021.
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The approval of the transaction by STB is accompanied by a number of conditions. CPKC activities are monitored for 7 years, in addition, restrictions are introduced in order to maintain competition, protect the environment, develop passenger traffic and save jobs. Particular attention will be paid to ensuring the safety of transporting dangerous goods.
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