Kansas City Southern’s Board of Directors unanimously determined that Canadian National Railway’s unsolicited proposal could reasonably be expected to lead to a “Company Superior Proposal” as defined in KCS’s merger agreement with Canadian Pacific Railway.
Canadian National Railway submitted an unsolicited proposal to acquire Kansas City Southern in a cash and stock transaction valued by CN at $325 per KCS share.
Canadian Pacific Railway and Kansas City Southern announced their intention to merge, a move they say will create the first Canada-to-Mexico rail network.
The nation’s railroads have made significant strides implementing Positive Train Control (PTC), a former Federal Railroad Administration (FRA) administrator says.
The federal government is expecting railroads to implement positive train control (PTC) systems by the Congressionally mandated Dec. 31 deadline, Transportation Secretary Elaine L. Chao said in a letter.
Total rail traffic volume in the United States in 2016 was 26,587,351 carloads and intermodal units, down 5 percent or 1,389,323 carloads and intermodal units from the same point last year.