The United States Surface Transportation Board has granted the necessary permission for Canadian Pacific Railway’s acquisition of Kansas City Southern Railway. The US$31 billion purchase would form a unified, single-line freight rail network connecting Canada, the US and Mexico—a significant milestone in modern railway transportation.
The planned merger of Canadian Pacific and Kansas City will conclude with the new railway being called Canadian Pacific Kansas City. The current CP president, Keith Creel, is set to become CEO of the railway, with its global headquarters will be situated in Calgary.
Read more: US Regulator Considers New Probe Into Advertising In Social Media & Video Streaming
CP has said the merger will build a more efficient and competitive rail network, and provide customers with a more reliable and economical transportation option serving critical north-south trade flows.
