The six Class I freight railroads participating in national bargaining have started taking steps to manage and secure hazardous and security-sensitive material shipments.
Canadian Pacific and Union Pacific want an exemption from federal requirements for a potash unit train pair running between Portland, Oregon and Saskatchewan, Canada.
Under the deal, CP agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately USD $31 billion. The deal includes the assumption of $3.8 billion of outstanding KCS debt.
KCS intends to provide CP with nonpublic information and to engage in discussions and negotiations with CP with respect to CP’s proposal, subject in each case to the requirements of the CN merger agreement.