The Canadian Pacific Railway Ltd. (CP) announced today (8-16-22) that it has received the required regulatory clearance from the Committee on Foreign Investment in the United States (CFIUS) for the proposed combination of CP and the Kansas City Southern Railroad (KCS).
CP completed its acquisition of KCS on December 14, 2021. Immediately upon the closing of the acquisition, the shares of KCS were placed into a voting trust which ensures KCS will operate independently of CP while the US Surface Transportation Board (STB) completes its regulatory review of the companies’ joint railroad control application to create Canadian Pacific Kansas City (CPKC), the only single-line railroad linking the United States, Mexico, and Canada.
The STB review of CP’s proposed control of KCS is expected to be completed in early 2023.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.