Acquisition of Kansas City Southern RR moves ahead

A Canadian Pacific train hauls oil westward through Banff National Park, Alberta, Canada, Sunday, Nov. 28, 2021. Refineries on the west coast of Canada have run short of crude oil following the shutdown of pipelines due to catastrophic flooding in southern British Columbia. (Frank Gunn/The Canadian Press via AP)

 

Canadian Pacific’s $31 billion acquisition of Kansas City Southern railroad is moving ahead after nearly being derailed earlier in the year amidst a bidding war.

The Associated Press reports Canadian Pacific set up a voting trust this week after shareholders of both railroads approved the acquisition last week.

Click here for AP story.