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A Richardson Pioneer grain elevator in Saskatchewan on July 28, 2017. (Scott Prokop Photography/CNW Group/Richardson International)
Crops

Richardson building new southwestern Saskatchewan elevator

On-site crop inputs facility to follow

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Winnipeg grain firm Richardson International has started work on a new high-throughput grain elevator in southwestern Saskatchewan, to be bookended by smaller elevators it already operates in the region. The company said Monday it began construction work earlier this month at Carmichael, about 65 km southwest of Swift Current, about three km south of the
A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)
Crops

Kansas City Southern sticks with CN as CP won’t raise bid

CN confident of regulatory approval

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Reuters — Kansas City Southern on Friday reiterated that Canadian National Railway’s offer was “superior” after Canadian Pacific Railway refused to raise its bid, moving a step closer to creating the largest-ever merger of North American railways by transaction value. The Canadian rivals have been locked in a takeover battle for the U.S. railroad operator
CN locomotives in Winnipeg. (Photo courtesy CN)
Crops

CN shareholder urges changes to Kansas City Southern deal

Fund manager also holds stake in CP

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Reuters — Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railway changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn’s TCI Fund Management, which has a 2.93 per cent stake in CN,
A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)
Crops

CN bid for U.S. railway poses greater risk to competition, DOJ says

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Reuters — The U.S. Department of Justice said on Friday that Canadian National Railway’s bid for U.S. railway operator Kansas City Southern appears to pose greater risks to competition than a rival agreement with Canadian Pacific Railway. The development comes as KCS on Thursday accepted CN’s $33.6 billion acquisition offer, upending the $29 billion deal
A freight train at Manchac, La., about 75 km east of Baton Rouge. (CN.ca)
Crops

Kansas City Southern accepts new CN bid over CP’s

CN offers to cover KCS's breakup fee with CP

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Reuters — U.S. railway operator Kansas City Southern said Thursday it had accepted Canadian National Railway’s $33.6 billion acquisition offer, upending a $29 billion deal with its competitor Canadian Pacific Railway. The development, first reported by Reuters, gives CP five business days to make a new offer for Kansas City Southern. Were CP to table
(Dave Bedard photo)
Crops

Cost index up for CN, down for CP in grain revenue formula

CP expects lower labour costs, CN higher

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Expected labour costs were the major difference in a new ruling on the index that determines how much revenue each of Canada’s big two railways get to keep in the coming crop year from hauling Prairie grain. The Canadian Transportation Agency (CTA) on Thursday announced its decisions on the volume-related composite price index (VRCPI) for
(Kansas City Southern video screengrab via YouTube)
Crops

Rail shippers pick sides as CP, CN bid for Kansas City Southern

Richardson, Conagra among firms supporting both bids

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Winnipeg | Reuters — North America’s freight rail customers, from grain shippers to logistics companies, are choosing sides as Canadian Pacific Railway and Canadian National Railway fight to buy Kansas City Southern. A takeout of KCS would be the first major North American railroad combination in more than 20 years and create the first network
(File photo by Dave Bedard)
Crops

CP CEO rules out raising Kansas City Southern bid

CP's first-quarter profit climbs

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Reuters — Canadian Pacific Railway CEO Keith Creel said Wednesday the company will not raise its bid for U.S. railroad Kansas City Southern, saying bigger rival Canadian National’s offer is “not a real deal.” The two bidding companies are locking horns to take control of a vast network of railways across North America, with CN
A freight train at Manchac, La., about 75 km east of Baton Rouge. (CN.ca)
Crops

CN challenges CP with Kansas City Southern bid

KCS shareholder warns U.S. regulator 'doesn't like overlap'

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Reuters — Canadian National Railway said on Tuesday it had offered to buy Kansas City Southern railroad for about US$33.7 billion, sending shares of the U.S. rail company soaring as investors anticipated a bidding war with Canadian Pacific Railway. CP had agreed a deal to acquire Kansas City Southern for about $25 billion last month

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