GFM Network News


(File photo by Dave Bedard)

Kansas City Southern plans to accept CP’s bid

Deal would create new lanes for Prairie freight, CP says

Reading Time: 2 minutes Reuters — U.S. railway Kansas City Southern said on Sunday it planned to accept Canadian Pacific Railway’s US$27.2 billion cash-and-stock acquisition offer as superior to its US$29.6 billion deal to sell itself to Canadian National Railway. CN now has until the end of Friday to submit a better offer or lose its deal with KCS. […] Read more

A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

U.S. regulator rejects CN’s voting trust to buy Kansas City Southern

CP rips CN's play as 'illusory and not achievable'

Reading Time: 3 minutes Reuters — The U.S. rail regulator on Tuesday rejected a voting trust structure that would have allowed Canadian National Railway (CN) to proceed with its US$29 billion proposed acquisition of U.S. peer Kansas City Southern. The decision was a blow to the deal that would create the first direct railway linking Canada, the U.S. and […] Read more


A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

U.S. railway’s board sticks with CN’s bid

Kansas City Southern board spurns sweetened CP bid

Reading Time: 3 minutes The board of directors for a U.S. railway facing takeover bids from each of Canada’s big two railways is sticking with Canadian National Railway’s (CN) proposal. The board for Kansas City Southern (KCS), in a release Aug. 12, said it unanimously agrees an upgraded Aug. 10 cash-and-stock bid from Canadian Pacific Railway (CP) “does not […] Read more

(Hexo Corp video screengrab via YouTube)

Hexo steps up cannabis M+A spree with Redecan deal

Reading Time: < 1 minute Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during […] Read more


A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

Kansas City Southern sticks with CN as CP won’t raise bid

CN confident of regulatory approval

Reading Time: < 1 minute Reuters — Kansas City Southern on Friday reiterated that Canadian National Railway’s offer was “superior” after Canadian Pacific Railway refused to raise its bid, moving a step closer to creating the largest-ever merger of North American railways by transaction value. The Canadian rivals have been locked in a takeover battle for the U.S. railroad operator […] Read more

CN locomotives in Winnipeg. (Photo courtesy CN)

CN shareholder urges changes to Kansas City Southern deal

Fund manager also holds stake in CP

Reading Time: 2 minutes Reuters — Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railway changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn’s TCI Fund Management, which has a 2.93 per cent stake in CN, […] Read more


A freight train at Manchac, La., about 75 km east of Baton Rouge. (CN.ca)

Kansas City Southern accepts new CN bid over CP’s

CN offers to cover KCS's breakup fee with CP

Reading Time: < 1 minute Reuters — U.S. railway operator Kansas City Southern said Thursday it had accepted Canadian National Railway’s $33.6 billion acquisition offer, upending a $29 billion deal with its competitor Canadian Pacific Railway. The development, first reported by Reuters, gives CP five business days to make a new offer for Kansas City Southern. Were CP to table […] Read more

A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)

CP files objection with U.S. regulator over CN’s Kansas City Southern bid

Reading Time: 2 minutes Reuters — Canadian Pacific Railway said on Saturday it filed a formal objection with a U.S. regulator, stating Canadian National Railway’s near US$30 billion rival bid for Kansas City Southern does not qualify to be exempted from tougher merger rules. Last week, the U.S. Surface Transportation Board (STB) granted a waiver to CP’s $25 billion […] Read more


(Kansas City Southern video screengrab via YouTube)

Rail shippers pick sides as CP, CN bid for Kansas City Southern

Richardson, Conagra among firms supporting both bids

Reading Time: 2 minutes Winnipeg | Reuters — North America’s freight rail customers, from grain shippers to logistics companies, are choosing sides as Canadian Pacific Railway and Canadian National Railway fight to buy Kansas City Southern. A takeout of KCS would be the first major North American railroad combination in more than 20 years and create the first network […] Read more

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Four-way Seeds Canada merger approved

Four organizations to amalgamate in February without CSGA on board

Reading Time: 3 minutes A merger of four Canadian seed industry organizations has been cleared to proceed without its fifth partner. Members of the Canadian Plant Technology Agency (CPTA), Commercial Seed Analysts Association of Canada (CSAAC), Canadian Seed Institute (CSI) and Canadian Seed Trade Association (CSTA) have voted in favour of amalgamation, the groups announced Wednesday. An inaugural board […] Read more