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Rail News Home Canadian Pacific 11/4/2021 Rail News: Canadian Pacific
CP awarded G3 Pasqua (shown) and CHS Northland Grain Hazel with the Class I's 2020-2021 Elevators of the Year award. Photo – g3.ca

Rail News Home Canadian Pacific 11/4/2021 Rail News: Canadian Pacific
Canadian Pacific has scheduled a Dec. 8 special meeting for its shareholders to vote on its proposed acquisition of Kansas City Southern.The meeting will be held virtually and is open to all shareholders who held CP common stock as of the close of business Nov. 1. As announced on Sept. 15, CP has agreed to acquire KCS in a cash and stock transaction worth $31 billion, including the assumption of $3.8 billion in outstanding KCS debt. KCS has been valued at $300 per share.The Surface Transportation Board on Sept. 30 approved the use of a voting trust for the transaction. Shareholders from both companies have to approve the combination.At the closing, KCS shareholders will receive 2.884 CP shares and $90 in cash for each KCS common share held, and KCS’s voting shares will be placed into trust. The companies expect the transaction to close by first-quarter 2022, CP officials said in a press release.

Rail News Home Canadian National Railway - CN 11/3/2021 Rail News: Canadian National Railway - CN
CN and Progress Rail today announced they're partnering with Renewable Energy Group (REG) to test high-level renewable fuel blends, including both biodiesel and renewable diesel.Trials and qualifications of up to 100% bio-based diesel fuel are important steps in reducing greenhouse gas (GHG) emissions from CN’s existing locomotive fleet, while alternative propulsion locomotive technologies are being developed, CN and Progress Rail officials said in a joint press release.The program will allow CN and Progress Rail to better understand the long-term durability and operational impacts of renewable fuels on locomotives, especially in cold weather, and plan needed modifications to fully leverage their usage over the next decade, they said.Rail has the potential to reduce the environmental impact of transportation services, as shipping heavy freight by rail can reduce carbon emissions by up to 75% when compared to trucks.Looking to 2030 and beyond, reducing fossil carbon emissions associated with rail transportation will continue to require innovative fuel-efficient technologies, the greater use of cleaner sustainable fuels and designing innovative low emission supply chain solutions through investments and collaboration, they added.