Canadian Pacific Railway Obtains Mexican Regulatory Approval for the Kansas Southern Acquisition
Nov 26, 2021 By MarketDepth
Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) announced today that it had received approvals from Mexican regulatory authorities for its acquisition of Kansas City Southern.
Single Line Railway Across North America
Canadian Pacific Railway (“CP”) is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coast. “This important milestone marks the next step on our path to creating the first single-line rail network linking the U.S., Mexico and Canada,” said Keith Creel, CP President and Chief Executive Officer.
Review to be Completed in Q4 2022
With the required regulatory pre-transaction control approvals from the Mexican Federal Economic Competition Commission and the Mexican Federal Telecommunications Institute obtained, the company now expects a review of the deal by the U.S. Surface Transportation Board to be completed in Q4 of 2022.
“We are very excited to be working with CP to bring the benefits of this end-to-end combination to fruition. Together we will unlock the full potential of our networks to provide new single-line offerings and industry-best service that will dramatically expand competitive transportation options across North America.”Patrick J. Ottensmeyer, President and Chief Executive Officer of KCS