CP Rail Says it Will Maintain Existing Level of Service in Response to CN Request to Regulator
January 13 2022 - 12:16PM
Dow Jones News
By Adriano Marchese
Canadian Pacific Railway Ltd. said Thursday that it won't
downgrade any lines after Canadian National Railway Co. said it
would ask a U.S. regulator to force a divestiture of certain lines
east of Kansas City.
The Canadian railroad responded to a notice of intent by CN Rail
that it would file an application asking the Surface Transportation
Board to force a divestiture of Kansas City Southern's lines east
of Kansas City as part of its regulatory review of the proposed
combination.
CP Rail and KCS railways completed their proposed combination in
mid-December for an enterprise value of US$31 billion.
"A future [Canadian Pacific Kansas City] will not downgrade any
lines, these included. Instead, CPKC will maintain existing levels
of service on these lines and will not re-route traffic away from
these lines, contrary to CN's assertions," the company said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 13, 2022 13:01 ET (18:01 GMT)
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