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About: http://data.cimple.eu/news-article/8da6687bd3acb6bf7d2920b750e55155e0a6de394d7d7d64c609d4e8 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	The Canadian Pacific Railway plans to merge with US-based Kansas City Southern (KCS) to create the first rail network linking Canada, the United States and Mexico, the companies announced Sunday. The deal is valued at $29 billion, including the assumption of $3.8 billion in outstanding KCS debt, a joint statement said. "This transaction will be transformative for North America, providing significant positive impacts for our respective employees, customers, communities and shareholders," said CP president and chief executive Keith Creel. "This will create the first US-Mexico-Canada railroad." The combined network of 20,000 miles (32,000 kilometers) will give Calgary-based CP access to the American heartland via Kansas City, from which a vast rail network reaches from the farms of the US Midwest to the ports of the Gulf of Mexico. The resultant network will also link the ports and factories of Mexico to the ports and energy resources of Canada and the factories of the Northeast US. Mexico is a major exporter of automobiles, electronics and agricultural products, while also importing large amounts of grain and manufactured goods. By enlarging market access and providing new transportation options, the joint statement said, the deal is expected to boost North American economic growth. It said the merger would benefit from the United States-Canada-Mexico Agreement on trade ratified a year ago by the three countries. The USMCA "makes the efficient integration of the continent's supply chains more important than ever," Creel said. The boards of both companies have approved the deal, which still requires green-lighting from regulators of the US Surface Transportation Board. Canadian Pacific, the second largest Canadian rail operator after CN Rail, will offer KCS shareholders $275 per share, in cash and CP shares. That is a 23 percent premium above the KCS closing price on Friday. KCS shareholders will hold one-fourth of the capital of the Canadian company once the deal is concluded. The combined company will employ nearly 20,000 people and generate total revenues of $8.7 billion, based on 2020 revenues, the statement said. vmt/oaa/bbk/st
schema:headline	Firms set merger to create 'first US-Canada-Mexico railroad'
schema:mentions	United States–Mexico–Canada Agreement Midwestern United States Kansas City metropolitan area Pacific Ocean Canada Mexico United States Surface Transportation Board Keith Creel Canadian Pacific Railway Canadian National Railway Mark Roebuck Energy industry
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-21 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	77 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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