Canadian Pacific Kansas City Merger Gains STB Approval

The US Surface Transportation Board (STB) has provided approval for the merger of Canadian Pacific (CP) and Kansas City Southern (KCS), subject to certain conditions. This decision will enable CP to exercise control of KCS to form Canadian Pacific Kansas City (CPKC) from 14 April 2023 onwards. STB’s conditions for this merger include a seven-year oversight period to ensure CPKS mitigates environmental impacts, preserves competition, protects railroad workers and promotes efficient passenger rail. CP is now reviewing the 212-page decision in detail and says it will announce its plans in the coming days. CP President and Chief Executive Officer Keith Creel said: “This decision clearly recognises the many benefits of this historic combination. As the STB found, it will stimulate new competition, create jobs, lead to new investment in our rail network, and drive economic growth. “A combined CPKC will connect North America through a unique rail network able to enhance competition, provide improved reliable rail service, take trucks off public roads and improve rail safety by expanding CP’s industry-leading safety practices.”

https://railway-news.com/canadian-pacific-kansas-city-merger-gains-stb-approval/