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Kansas City Southern (NYSE: KSU) has received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase 500,000 shares at $285.00 each, which is 2.47% lower than KCS's last closing price on April 30, 2021. KCS does not endorse this offer and advises shareholders to reject it, suggesting those who have tendered shares withdraw immediately. The offer is part of a pattern by TRC Capital, known for making similar low-priced offers that lack investor protections. KCS urges investors to consult financial advisors before making decisions.
Kansas City Southern (KCS) has announced that its emissions reduction targets have been approved by the Science Based Targets initiative (SBTi). The targets aim for a 42% reduction in scope 1 and 2 greenhouse gas emissions intensity per million gross ton-miles by 2034, based on 2019 levels. KCS emphasizes its commitment to sustainability and improving fuel efficiency, with rail transport being 75% more efficient than truck transport. This initiative aligns with global efforts to maintain warming below 2°C as stipulated in the Paris Agreement.
Kansas City Southern (NYSE: KSU) announced the Board's unanimous action regarding an unsolicited acquisition proposal from Canadian National Railway (NYSE: CNI) valued at $325 per share. This proposal may potentially qualify as a 'Company Superior Proposal' under KCS's existing merger agreement with Canadian Pacific Railway (TSX: CP), which offers $275 per share. KCS intends to engage in discussions with CN while remaining bound by the CP agreement, and there is no guarantee these discussions will lead to a transaction.
Canadian Pacific Railway and Kansas City Southern announced that various stakeholders, including Bartlett Grain and the Port of Milwaukee, have filed statements with the Surface Transportation Board in support of their planned merger. Over 405 supporters have backed the combination, citing benefits such as enhanced competition, improved market access, and better service offerings. The merger is pending approval from the STB, as well as from the shareholders of both companies. The review process is expected to conclude by mid-2022.
Kansas City Southern (KSU) received an unsolicited acquisition proposal from Canadian National Railway (CNI) valued at $325 per share, surpassing its existing merger agreement with Canadian Pacific Railway (CP) for $275 per share. KSU's board will evaluate this new offer while still considering the terms of its agreement with CP, which is subject to regulatory and shareholder approvals. Financial and legal advisors, including BofA Securities and Morgan Stanley, are assisting KSU in this matter.
Kansas City Southern (KSU) reported Q1 2021 revenues of $706.0 million, down 4% year-over-year, attributed to lower volumes, decreased fuel surcharge, and currency fluctuations. Operating expenses were $453.0 million, leading to an operating income of $253.0 million and a 64.2% operating ratio. Net income stood at $153.4 million or $1.68 per diluted share. Adjusted results showed operating income at $272.3 million and diluted EPS at $1.91. The company announced a merger with Canadian Pacific, enhancing competitive rail service in North America.
Kansas City Southern (KCS) has appointed Jeffrey M. Songer as executive vice president for strategic merger planning and John F. Orr as executive vice president for operations. Songer will lead the merger application process for the proposed combination with Canadian Pacific, focusing on critical planning areas such as safety, environmental impact, and labor. Orr brings over 20 years of railroading experience and has been integral as an executive consultant. KCS aims to enhance its operational efficiency amid strategic changes, positioning itself for a significant merger in its history.
Canadian Pacific Railway Limited and Kansas City Southern have filed with the Surface Transportation Board to review their merger under a previously granted waiver. This was in response to competitor objections. CP and KCS argue that the 2001 waiver's rationale remains applicable, asserting their merger enhances competition against larger railroads. The filing notes that over 375 stakeholders support the merger, which aims to create a seamless rail network across Canada, the U.S., and Mexico. The review by the STB is anticipated to be completed by mid-2022.
On April 12, 2021, Canadian Pacific Railway and Kansas City Southern reported that over 375 shippers and stakeholders have filed support letters with the Surface Transportation Board (STB) for their proposed rail network combination. The latest support includes 75 new stakeholders, emphasizing the expected benefits such as enhanced competition, improved transit times, and market access. The STB review is anticipated to conclude by mid-2022, and the combination will require shareholder approvals. This merger aims to create a more efficient rail service, remaining the smallest of six U.S. Class 1 railroads.
Canadian Pacific Railway Limited (CP) and Kansas City Southern (KCS) have secured additional support from over 75 customers and stakeholders, totaling more than 375 endorsements for their proposed U.S.-Mexico-Canada rail network. The supporters, including major companies like XPO Logistics and Dollarama, express confidence that the merger will enhance transportation competition, improve service offerings, and increase market access. CP is seeking approval from the Surface Transportation Board (STB), with a decision anticipated by mid-2022.
