Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Thursday, September 2, 2021
Canadian Pacific Renews Kansas City Southern Offer
The bidding war for Kansas City Southern continues as Canadian Pacific renewed its bid the acquire the railway company. The move followed the Surface Transportation Board’s rejection of the Canadian National bid, which STB determined, “the proposed voting trust is not consistent with the public interest standard under the board’s merger regulations.”

Keith Creel, Canadian Pacific President and CEO, states, "we have notified the KCS Board of Directors that our August 10 offer still stands to bring this once-in-a lifetime partnership together." Canadian National issued a statement following the STB decision, expressing disappointment in the STB decision. Canadian National and KCS are evaluating what options are available.

Meanwhile, the KCS Board of Directors will evaluate Canadian Pacific’s proposal under the terms of a merger agreement with Canadian National. Canadian Pacific has filed a proxy statement asking stockholders to vote against the proposed CN-KCS combination at the KCS stockholders meeting on September 3.

Back in May of this year- we talked with former North Dakota Senator Byron Dorgan who supports the concept of Canadian Pacific merging with the Kansas City Southern Railroad- which has tracks in the far eastern part of the state of Oklahoma. Dorgan said he's always been against rail mergers but the the CP offer would be good for agriculture- saying "I think it is a rare exception is because it will open new markets, promote more competition and create a single line opportunity to both coasts and down into Texas and Mexico."

Click on the button below to jump backl to our earlier conversation with Senator Dorgan on this possible merger.

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Ron Hays
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