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Canadian Pacific Railway and Kansas City Southern have jointly filed an application with the Surface Transportation Board to create Canadian Pacific Kansas City (CPKC), the first single-line railroad connecting the U.S., Mexico, and Canada. This historic merger could enhance competition, create over 1,000 jobs, and generate more than $275 million in infrastructure investment over three years. The acquisition, valued at $31 billion, includes KCS debts and aims to reduce greenhouse gas emissions significantly. Shareholder votes are anticipated later this year.
Kansas City Southern (KSU) has partnered with Suministros Industriales Potosinos and TransDevelopment Group to establish the Central Bajío Vehicle Distribution Center (VDC) in Mexico. This state-of-the-art terminal will facilitate the shipment of finished vehicles, positioned strategically on KCS's main line. It aims for capacity to handle up to 10,000 vehicles and improve rail car availability. The VDC will enhance access to critical markets like Guadalajara and Mexico City, shaping the robust automotive network in Mexico's Bajío region.
Kansas City Southern (KSU) reported third quarter revenues of $744.0 million, a 13% increase from the previous year, despite a 3% decline in carload volumes. The revenue rise was attributed to higher fuel surcharges and a stronger Mexican peso. Operating expenses were $492.1 million, including $36.5 million in merger costs, resulting in an operating income of $251.9 million and a net income of $156.5 million, or $1.71 per diluted share. KSU is optimistic about resolving supply chain disruptions as it prepares for a merger with Canadian Pacific.
Kansas City Southern (NYSE: KSU) announced that Sameh Fahmy, executive vice president of precision scheduled railroading, will leave the company by year-end. Fahmy, who joined KCS in January 2019, has overseen significant improvements, including a 37% increase in train velocity and $150M in annualized savings through PSR initiatives. His leadership strengthened KCS’s operational foundation, enhancing customer service and positioning the company for future growth. Patrick J. Ottensmeyer, KCS CEO, acknowledged Fahmy's contributions to the company's success.
Kansas City Southern (NYSE: KSU) has partnered with Commtrex to enhance connectivity at over 100 transload facilities across the U.S. and Mexico. This collaboration aims to address challenges in global supply chains, including rising transportation costs and capacity constraints. The Commtrex platform will enable shippers to efficiently locate transload centers, supporting growth in transload volumes, especially in competitive U.S. and Mexican markets. KCS focuses on optimizing rail shipping and increasing operational efficiencies through this digital logistics platform.
Kansas City Southern (KSU) will release its third quarter 2021 financial results on October 19, 2021, before the NYSE trading session begins. An earnings conference call is scheduled for the same day at 8:45 a.m. ET. Participants can join via live webcast or telephone. A replay will be accessible afterward. Headquartered in Kansas City, MO, KCS focuses on railroad investments throughout the U.S., Mexico, and Panama, connecting key commercial centers across North America.
Canadian Pacific Railway and Kansas City Southern have entered a merger agreement valued at approximately
Kansas City Southern (NYSE: KSU) announced its Board's determination that the acquisition proposal from Canadian Pacific Railway (TSX: CP, NYSE: CP) as of September 12, 2021, is a "Company Superior Proposal". Consequently, KCS terminated its existing merger agreement with Canadian National Railway (TSX: CNI, NYSE: CNI). The new CP merger terms include $90 in cash and 2.884 CP shares for each KCS common stockholder, and $37.50 in cash for preferred stockholders. KCS will pay a $700 million breakup fee to CN, which will be reimbursed by CP upon closing, subject to shareholder and regulatory approvals.
Kansas City Southern (KSU) announced that its Board of Directors has deemed Canadian Pacific's (CP) revised proposal a "Company Superior Proposal" compared to its current merger agreement with Canadian National Railway Company (CNI). The proposal includes exchanging each share of KSU common stock for 2.884 shares of CP and $90 in cash, with KSU preferred stockholders receiving $37.50 in cash. KSU plans to terminate its agreement with CNI and may accept CP's offer pending negotiation rights for CNI.
