Canadian Pacific and KCS officially combine under Canadian Pacific Kansas City banner
By The Canadian Press on April 14, 2023.
CALGARY – Canadian Pacific Railway Ltd. and Kansas City Southern have officially combined to create Canadian Pacific Kansas City. CP completed its US$31-billion acquisition of KCS in December 2021, but placed the KCS shares into a voting trust, which ensured the U.S. railway operated independently during a regulatory review. The U.S. Surface Transportation Board gave its final approval of the deal last month, clearing the way for the combination. The company says it will mark the occasion by driving of a ceremonial final spike in Kansas City, Mo., where the two railways meet. CPKC will also break ground today on a new yard office, that will be the future location of its U.S. operations centre. It says shares in the railway will remain listed on the Toronto Stock Exchange and New York Stock Exchange under the ticker symbol CP and are expected to begin trading under the new name on April 18. This report by The Canadian Press was first published April 14, 2023. Companies in this story: (TSX:CP) 9-8
