Canadian Pacific Kansas City Limited Stock Price, News & Analysis

Canadian Pacific Railway (TSX: CP; NYSE: CP) reported that over 1,050 letters have been filed with the Surface Transportation Board (STB) regarding its proposed combination with Kansas City Southern (KCS) and concerns over Canadian National's (CN) voting trust. More than 330 stakeholders oppose CN's plan, citing risks to competition and service quality. CP plans to submit comments to the STB by June 28, arguing that CN's voting trust poses public interest costs without benefits. CP's application for KCS acquisition is ongoing, emphasizing pro-competitive advantages.

Canadian Pacific Railway Limited (CP) responded to the Surface Transportation Board's (STB) schedule for comments on Canadian National's (CN) proposed voting trust related to its acquisition of Kansas City Southern (KCS). CP argues that the voting trust is not in the public interest, asserting it would harm competition and shift financial burdens to shippers. CP plans to submit comments by June 28, alongside over 130 stakeholders opposing the proposal. The company remains confident that the STB will reject CN's bid, emphasizing that a CP-KCS merger would be more beneficial for the rail network and North American commerce.

More than 130 stakeholders urged the Surface Transportation Board (STB) to reject Canadian National's (CN) proposed voting trust related to its merger with Kansas City Southern (KCS). This adds to over 960 submissions highlighting concerns over reduced competition and service quality. The Department of Justice has echoed these fears, stating that CN's merger poses greater risks than the CP-KCS combination. Canadian Pacific (CP) continues to assert its position as the only suitable Class 1 combination and plans to proceed with its acquisition application for KCS.

Canadian Pacific Railway Limited (TSX: CP) responded to Canadian National's (CN) commitment to divest a 70-mile line between New Orleans and Baton Rouge, stating that this action fails to address significant anti-competitive issues. CP emphasized that the divestment does not alleviate competition concerns in key rail corridors and could reduce service quality for shippers. The statement also highlighted the potential negative impact on customer access during CN's acquisition of Kansas City Southern (KCS). CP cautioned that overall competition would likely diminish throughout this process.

On May 24, 2021, Canadian Pacific (TSX: CP) announced that its President and CEO, Keith Creel, will present at the Wolfe Research Global Transportation & Industrials Conference on May 26, 2021, at 9:45 a.m. ET. The event will be available via live audio webcast, with a replay accessible afterward. Canadian Pacific operates a transcontinental railway in Canada and the U.S., providing competitive rail services and logistics solutions, connecting customers to key markets globally.

Canadian Pacific Railway (TSX: CP) announced its decision to proceed with its application to the Surface Transportation Board (STB) following Kansas City Southern's (KCS) termination of their merger agreement. CP emphasizes that pushing forward with their application is beneficial for both KCS and the public, ensuring that the competitive nature of the CP/KCS transaction is evaluated. The press release highlights CP's readiness to engage with KCS should the CN acquisition be impeded, noting the significant financial commitments involved in the CN's bid, which exceeds CP's offer.

Canadian Pacific Railway (TSX: CP, NYSE: CP) reiterated its commitment to a pro-competitive merger with Kansas City Southern (KCS) in a letter to KCS's Board. Citing regulatory risks associated with Canadian National's (CN) proposal, CP argues that CN's offer jeopardizes competition and lacks viability. The Surface Transportation Board's recent decision and comments from the Department of Justice further support CP's claims. CP aims to finalize the merger with KCS, enhancing shareholder value and service quality, while emphasizing the importance of maintaining competition in the railroad industry.

Canadian Pacific Railway Limited (TSX: CP) filed a letter with the Surface Transportation Board opposing Canadian National's (CN) proposed three-business day comment period on voting trust approval. The letter claims CN's approach is based on a false premise about a filing deadline. CP argues that a more reasonable comment period of at least 20 days is necessary for interested parties to respond adequately. CP emphasizes that CN had sufficient time to prepare its submission and that its expedited timeline is unfair and inadequate.