Canadian Pacific Kansas City Limited

Canadian Pacific Railway Ltd. operates as a holding company, which engages in the provision of rail services. It offers a suite of freight transportation services, logistics solutions and supply chain expertise. The company was founded in 1881 and is headquartered in Calgary, Canada.

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Canadian Pacific Kansas City Ltd. engages in the provision of rail freight transportation services. It offers rail services linking Canada, the United States and Mexico. The company was founded on June 22, 2001, and is headquartered in Calgary, Canada.

Kansas City Southern

The railroad does not believe rival Canadian National can win U.S. regulatory approval.

Canadian Pacific Will Not Sweeten Kansas City Southern Offer, Calls Rival Bid "Illusory"

Canadian Pacific Railway Ltd on Thursday reiterated its commitment to buy Kansas City Southern without raising the buyout offer for the railroad operator.

Canadian Pacific reiterates commitment to buy Kansas City without raising bid

CP Reaffirms its Commitment to Only True End-to-End and Pro-Competition Combination Letter Outlines Heightened Regulatory Risk with CN Proposal; Only CP-KCS is in Public Interest and Achievable   CALGARY, AB, May 20, 2021 /PRNewswire/ - Today, Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced that it sent a letter to Kansas City Southern's ("KCS") Board of Directors calling on them to reject Canadian National's ("CN") proposal in light of intervening events and reaffirming its commitment to the pro-competitive CP-KCS combination and the achievable, compelling value under the pre-existing merger agreement. The full text of the May 20, 2021 letter is below: Board of Directorsc/o Pat Ottensmeyer Kansas City Southern427 West 12th Street Kansas City, Missouri 64105 Dear Members of the Kansas City Southern ("KCS") Board of Directors: On behalf of Canadian Pacific Railway Limited ("CP"), I am writing in response to the notice KCS delivered to CP on May 13, 2021, regarding the KCS Board's determination that the revised proposal received from Canadian National ("CN") that day (the "Revised CN Proposal") constitutes a "Company Superior Proposal" (as such term is defined in our Agreement and Plan of Merger, dated March 21, 2021 (the "CP-KCS Merger Agreement").

CP Calls on KCS Board to Reject CN's Anti-Competitive Proposal

CN's proposed "three business day" period for public comment is based on false premise CALGARY, AB, May 18, 2021 /PRNewswire/ - Today, Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) filed the following letter with the Surface Transportation Board in response to CN's proposed three-business day comment period on voting trust: The Honorable Cynthia T. BrownChief, Section of Administration, Office of ProceedingsSurface Transportation Board395 E Street S.W.

CP: CN's proposed voting trust timetable is not constructive and not serious

Canadian National Railway Company

The Surface Transportation Board's decision on Monday to hold Canadian railway CN's (NYSE: CNI) petition to acquire Kansas City Southern (NYSE: KSU) to a higher regulatory standard has emboldened both CN and rival Canadian Pacific (NYSE: CP). Both CN and CP are seeking to acquire Kansas City Southern (KCS).

CN, CP respond to rail regulator's decision on CN-KCS merger

STB "Expects to Take a More Cautious Approach to a Voting Trust" for Proposed CN-KCS Transaction Decision Follows DOJ Comments Citing CN Proposal as Having "greater risk to competition than CP agreement" Voting Trust Already Approved for Use in CP/KCS Transaction Highlights CP Agreement as Superior to CN Offer CALGARY, AB, May 17, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today issued the following statement in response to the Surface Transportation Board's ("STB") decision to apply the newer, more stringent merger rules to Canadian National's ("CN") proposed acquisition as well as its effort to obtain approval to use a voting trust in connection with its proposed combination with Kansas City Southern ("KCS"): We concur with the STB's decision to apply the new merger rules to the proposed CN transaction. The STB explained: "the proposed transaction poses issues that the current merger rules were designed to address, namely the potential competitive impacts of a merged entity with some degree of overlapping routes and presently existing direct competition—characteristics that would appear to pertain to the CN and KCS systems.

STB Applies "heavier Burden" and Greater Scrutiny to CN Bid for KCS, Underscoring Heightened Regulatory Risk

More than 680 Letters Now Filed with STB Cite CP-KCS Competitive Benefits, Urge Swift Review CP Confident in Superior Status as Only Viable Class 1 Merger Partner to KCS CALGARY, AB, May 17, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today announced that more than 130 additional stakeholders have filed statements with the Surface Transportation Board ("STB") supporting CP's planned, friendly merger with Kansas City Southern ("KCS"), bringing the total submitted to date to more than 680. There are also more than 110 letters filed with the STB expressing concern about the Canadian National ("CN") proposal.

Support Grows for CP+KCS as DOJ Affirms Anticompetitive Concerns with CN Proposal

DOJ Says CN Bid for KCS "appears to pose greater risks to competition than CP agreement" CP-KCS Remains Only Class 1 Transaction with Ability to Close into Voting Trust CALGARY, AB, May 14, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today issued the following statement in response to the Department of Justice ("DOJ") filing with the Surface Transportation Board ("STB") regarding Canadian National's ("CN") proposed use of a voting trust in connection with its proposed combination with Kansas City Southern ("KCS"). CP concurs with the DOJ's objection to CN's application forproposed use of a voting trust on the grounds that a CN merger with KCS would pose greater risks to competition than the CP-KCS agreement.

CP Concurs with DOJ Comment Affirming Anticompetitive Nature of CN Bid for KCS

CALGARY, AB, May 14, 2021 /PRNewswire/ - Canadian Pacific's (TSX: CP) (NYSE: CP) President and Chief Executive Officer, Mr. Keith Creel, will address the BofA Securities Transportation, Airlines and Industrials Conference on May 20, 2021, at 8:40 a.m.

CP's President and Chief Executive Officer to address the BofA Securities Transportation, Airlines and Industrials Conference on May 20, 2021

Wall Street is expecting Canadian Pacific to raise its offer for Kansas City Southern even at the cost of more debt to win the bidding war with larger Canadian railroad rival Canadian National.

Wall St sees chance of higher bid for Kansas City Southern from Canadian Pacific

CALGARY, AB, May 13, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today provided the following statement regarding Kansas City Southern's ("KCS") decision related to Canadian National's ("CN") unsolicited proposal: It is not surprising that CN would raise its offer, and it only highlights CN's recognition of the significant regulatory risk/challenges associated with its anti-competitive bid. There is nothing new here; this doesn't make it any more likely that the CN proposal can close into a voting trust.

Canadian Pacific Comments on Update From Kansas City Southern

CALGARY, AB, May 11, 2021 /PRNewswire/ - Canadian Pacific's (TSX: CP) (NYSE: CP) Executive Vice-President and Chief Marketing Officer, Mr. John Brooks, will address the RBC Capital Markets 2021 Canadian Automotive, Industrials and Transportation Conference on May 19, 2021, at 9:30 a.m.

CP's Executive Vice-President and Chief Marketing Officer to address the RBC Capital Markets Canadian Automotive, Industrials and Transportation Conference on May 19, 2021

Rivals Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) are still at work seeking to convince the Surface Transportation Board (STB), industry stakeholders and Kansas City Southern (NYSE: KSU) shareholders which Canadian railway is the best company suited to merge with Kansas City Southern (KCS). CP and KCS had announced plans to merge in March, while CN said in April that it is also interested in acquiring KCS.

Canadian Pacific, CN continue to lobby for merger support

Leclanche to supply its proprietary lithium-ion batteries and energy management software to be integrated with the fuel cell modules The breakthrough project is an entry into the freight-rail market that includes more than 45,000 diesel locomotives in North America and G5 European countries Testing will take place along Canadian Pacific's rail network in Canada YVERDON-LES-BAINS, Switzerland and ANDERSON, Indiana, May 11, 2021 /PRNewswire/ -- Leclanché SA (SIX: LECN) will provide its proprietary battery technology to Canadian Pacific (TSX: CP) (NYSE: CP) for its innovative Hydrogen Locomotive Program. The CP hydrogen-powered locomotive pioneering project, first announced in December 2020, will retrofit a line-haul diesel freight locomotive with hydrogen fuel cells and Leclanché's European manufactured lithium-ion batteries to power the locomotive's electric traction motors.

Leclanché to Provide Advanced Battery Technology for Canadian Pacific's Hydrogen-powered Locomotive Project

Supporters File Letters to the Surface Transportation Board, Cite Competitive Benefits Supporters Urge the STB to Review the Transaction Efficiently to Realize Benefits to All Stakeholders CALGARY, AB, May 10, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today announced that another 131 stakeholders filed statements with the Surface Transportation Board ("STB") on May, 8, 2021 in support of its planned, friendly merger with Kansas City Southern ("KCS"), bringing the total to close to 550 supporters across the transportation supply chain in North America. The statements follow previous filings with the STB in support of the CP-KCS transaction and those opposing Canadian National's counterbid for KCS.

Close to 550 Shippers, Stakeholders Support CP-KCS Combination

The Surface Transportation Board (STB) has determined that Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) can proceed with establishing a voting trust as a way to protect Kansas City Southern (KCS) and its shareholders during the merger process. CP and KCS had announced plans to merge in March, while CP rival CN (NYSE: CNI) said in April that it is also interested in acquiring KCS.

Regulators approve CP's and KCS' request to form pre-merger voting trust

The U.S. Surface Transportation Board (STB) on Thursday approved the voting trust for Canadian Pacific Railway's proposed acquisition of Kansas City Southern railroad.

STB approves voting trust for Canadian Pacific's proposed acquisition of Kansas City Southern

STB Decision Marks an Important Milestone for Merger Agreement Merger Application and Proxy Filing for Shareholder Votes Underway CALGARY, AB, May 6, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") thanks the Surface Transportation Board ("STB") for its approval today of a voting trust for its planned, friendly merger with Kansas City Southern ("KCS"). "Following this critical milestone, we are proceeding full steam ahead to complete this historic combination, creating the first truly North American single line railroad," said CP President and Chief Executive Officer Keith Creel.

Canadian Pacific Receives Voting Trust Approval from Surface Transportation Board, Advancing Agreement for CP-KCS Combination

Rivals CN (NYSE: CNI) and Canadian Pacific (NYSE: CP) are vying to win the public's favor for which Canadian railway is better suited to merge with Kansas City Southern (NYSE: KSU). CP and Kansas City Southern (KCS) announced their agreement to merge in March, while CN announced its plans to acquire KCS in April.

CN and Canadian Pacific vie for shippers' and KCS shareholders' favor

Count BNSF (NYSE: BRK.B) as one of those watching how efforts by Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) to acquire Kansas City Southern (NYSE: KSU) play out. Executives with BNSF parent company Berkshire Hathaway noted on Saturday during the company's annual shareholder meeting that BNSF will seek opportunities to protect its franchise as the merger proceedings go before the Surface Transportation Board for review.

BNSF's parent company responds to KCS merger activity

Over 110 Letters Filed with the Surface Transportation Board Express Concern About the CN Proposal CP-KCS seen as the only combination that serves the public interest CALGARY, AB, May 3, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced today that more than 110 customers and other stakeholders have filed letters with the Surface Transportation Board ("STB") to express concerns about and/or opposition to Canadian National's ("CN") unsolicited proposal for Kansas City Southern ("KCS"). The letters from customers and other stakeholders highlight growing concerns that the CN-KCS combination would reduce competition in the Canada-U.S.-Mexico corridor.

CN-KCS Combination Facing Mounting Opposition; Reduced Competition Touted as Significant Concern Among Stakeholders

Canadian Pacific Railway Ltd (CP) said on Saturday it filed a formal objection with a U.S. regulator stating Canadian National Railway Co's near $30 billion rival bid for Kansas City Southern does not qualify to be exempted from tougher merger rules.

Canadian Pacific files objection with U.S. regulator over Canadian National's bid for Kansas City rail

Letter outlines six principal arguments for why the CN/KCS transaction be reviewed under 2001 merger rules CN/KCS transaction plainly flunks the "end-to-end" test for applying the pre-2001 rules CALGARY, AB, May 1, 2021 /PRNewswire/ - Canadian Pacific Railway Limited ("CP") (TSX: CP) (NYSE: CP) yesterday filed a formal objection with the Surface Transportation Board ("STB") stating that Canadian National ("CN") does not qualify for a waiver of the STB's rules for major transactions with respect to CN's unsolicited proposal for Kansas City Southern ("KCS"). In its letter, CP explains that the CN/KCS transaction does not satisfy any of the criteria that the STB relied upon in finding that the waiver should apply to a CP/KCS transaction, which the STB granted to CP on April 23, 2021.

Canadian Pacific Files Formal Objection to Canadian National Using Merger Waiver that STB Granted To CP/KCS Transaction

As Kansas City Southern's share price rises above Canadian Pacific Railway's offer on prospects of a bidding war, CP shareholders and analysts say the company should stick to its initial proposal, noting Canadian National Railway's rival offer may struggle to secure regulatory approval.

CP shareholders say bidding war for Kansas City Southern unnecessary

The railroad's bid for Kansas City Southern will not be judged under more stringent guidelines.

News for Canadian Pacific Kansas City Limited Stock (CP)