Railroad News

Rail News Home Kansas City Southern 12/10/2021 Rail News: Kansas City Southern
Kansas City Southern Railway stockholders today voted to approve the proposed merger with Canadian Pacific Railroad.Of the 64.5 million shares voting at a special meeting, 99.6% were cast in favor of the adoption of the proposed  agreement, KCS officials said in a press release.The transaction is expected to close into a trust Dec. 14. KCS stockholders will receive $90 in cash and 2.884 CP shares for each KCS common share held and $37.50 in cash for each KCS preferred share held. Immediately upon close, ownership of KCS will be held in a voting trust pending the Surface Transportation Board’s review and approval of CP’s proposed control of KCS, which is expected to occur in the fourth quarter of 2022.On Dec. 8, CP’s stockholders voted to approve the issuance of the CP common shares to KCS stockholders in connection with the proposed merger."This week, shareholders of both CP and KCS overwhelmingly supported this transformative proposal to create the first U.S.-Mexico-Canada rail network," said Keith Creel, CP president and CEO. "With strong shareholder support, we are excited to complete the steps required to close the CP-KCS transaction into the voting trust, a critical milestone in the journey to make Canadian Pacific Kansas City a reality."

Rail News Home Canadian Pacific 12/9/2021 Rail News: Canadian Pacific
"The overwhelming support our shareholders have given to the transaction is critical to making this combination a reality," said CP President and CEO Keith Creel. Photo –

Rail News Home CSX Transportation 12/8/2021 Rail News: CSX Transportation
CSX announced yesterday that for the ninth consecutive year it has been named to global environmental nonprofit CDP’s "A List,” which recognizes companies for leadership in taking actions to address climate change.CDP evaluates companies based on their actions to cut emissions, mitigate climate risks and develop a low-carbon economy.CSX was the top U.S.-based Class I to achieve the recognition, CSX officials said in a press release. CSX and CN are the only two North American railroads to receive the ranking.The CDP assessment examines issues such as leadership on corporate environmental ambition, action and transparency as well as management of environmental risks and demonstration of best practices. Officials said the recognition is considered the “gold standard of corporate environmental transparency.”“Railroads are three-to-four times more fuel efficient that trucks, on average, and CSX is continually developing innovative solutions for further reducing emissions by converting freight from highway to rail,” said Executive Vice President and Chief Legal Officer Nathan Goldman.