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CN, Kansas City Southern merger would target competition from trucks
CN sees $8 billion in growth opportunities post-merger
2 957 5 minutes read A Kansas City Southern train heads to its next destination. (Photo: Jim Allen/FreightWaves)
A merger between Canadian railway CN (NYSE: CNI) and Kansas City Southern (NYSE: KSU) would created a formidable opponent for what should be the industry’s largest threat: long-haul trucking, CN executives said Tuesday morning in their pitch to acquire Kansas City Southern (KCS).
“What’s really missing in North America at this point is a true north-south railroad … that can really rival with truck,” said CN President and CEO JJ Ruest in a call explaining the bid to Wall Street analysts and investors.
Supporters Urge the STB to Review the Transaction Efficiently to Realize Benefits to All Stakeholders
CALGARY, AB and KANSAS CITY, Mo., April 20, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ( CP ) and Kansas City Southern (NYSE: KSU) ( KCS ) today announced that Bartlett Grain, Port of Milwaukee, Asociación Mexicana de la Industria Automotriz A.C. (AMIA) were among stakeholders that filed statements with the Surface Transportation Board ( STB ) in support of the planned combination between the two companies. They join over 405 supporters across the broad spectrum of the transportation supply chain that have filed letters with the STB.