Canadian Pacific and Kansas Metropolis Southern will merge subsequent month
CB famous that the brand new firm will function the primary single-line railway linking the US, Mexico and Canada. (photograph: The Canadian Press)
Calgary — The Canadian Pacific Railway introduced Friday that it’s going to formally merge with American Kansas Metropolis Southern on April 14 below a brand new title, Canadian Pacific Kansas Metropolis (CPKC).
The Calgary-based firm stated CP’s President and CEO Keith Creel will lead the brand new firm, whereas CP’s Nadeem Vellani will probably be its chief monetary officer.
KCS President and CEO Pat Otensmire will change into an advisor to Keith Creel via the tip of 2023 to advertise continuity.
CB famous that the brand new firm will function the primary single-line railway linking the US, Mexico and Canada.
It’s anticipated that roughly 64,000 vehicles per 12 months will probably be moved from North American highways to railroads.
CP and KCS acquired the go-ahead for the deal from the US Floor Transportation Board earlier this week, eradicating the ultimate hurdle to closing a $31 billion deal signed in December 2021.
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