Transportation
Canadian Pacific Wins US Approval for $27 Billion Rail Deal
- Surface Transportation Board says deal in public interest
- Rail industry has been under scrutiny after derailments
A Canadian Pacific Railway locomotive crosses a bridge near Calgary, Alberta.
Photographer: Gavin John/BloombergThis article is for subscribers only.
Canadian Pacific Railway Ltd. received a green light to complete its $27 billion acquisition of Kansas City Southern, overcoming opposition from shippers and creating the only rail operator serving the US, Canada and Mexico.
The deal is consistent with the public interest, the US Surface Transportation Board, which has sole authority to approve rail deals, said Wednesday in a report. The combined operations will have “little to no track redundancies or overlapping routes,” it said.