The deal creates a single rail line connecting the U.S., Mexico and Canada and drew more scrutiny after the Ohio train derailment.
The Surface Transportation Board, charged with regulating freight companies, said the merger will foster growth of rail traffic, support passenger operations and shift freight from highways to rail, ultimately resulting in more safety and benefits to the environment.
to be called Canadian Pacific Kansas City, will connect the United States, Mexico and Canada and cover more than 20,000 miles of track — including 8,600 miles in the United States.In its decision, the board laid out conditions designed to protect competition and mitigate effects on communities. The decision authorizes Canadian Pacific to take control of Kansas City Southern as early as April 14. Canadian Pacific said it is reviewing the decision and will announce next steps in the coming days.“This decision clearly recognizes the many benefits of this historic combination,” Canadian Pacific President and Chief Executive Keith Creel said in a statement.
create the first direct route from Canada’s bitumen oil sands mines in Alberta to heavy crude refineries in Texas. Petroleum gas produced in Canada will more efficiently reach Mexico, where it is used for heating and cooking.The companies said the combined railroad will save time and resources because it will be able to operate trains over long distances without having to switch freight cars to other railroads.
The board is establishing an unprecedented seven-year oversight period to monitor the consolidation and aftermath to ensure the completion of capital investments. It will collect data on train lengths to monitor community concerns about blocked crossings. Some communities have voiced concern about the projected increase of longer trains as a result of the merger.
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