Bloomberg Law
March 15, 2023, 1:47 PM

Canadian Pacific Wins US Approval for $27 Billion Rail Deal (1)

Thomas Black
Thomas Black
Bloomberg News

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.

The approval comes with some conditions, including an obligation to keep gateways open to other railroads, to provide a dispute resolution mechanism to address ...