GFM Network News

More News →

(File photo by Dave Bedard)
Crops, Reuters

Kansas City Southern plans to accept CP’s bid

Deal would create new lanes for Prairie freight, CP says

By ,
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)
Crops

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

Kansas City Southern board spurns sweetened CP bid

By ,
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
(CervusEquipment.com)
Crops, Machinery and Shop

Brandt to buy Deere dealership chain Cervus

Regina firm to pay $302 million in all-cash deal

By ,
The world’s biggest privately-owned chain of Deere construction and forestry equipment dealerships is set to expand its reach into Deere farm equipment in a major way. Brandt Tractor, the equipment sales arm of the Regina-based Brandt Group, on Monday announced an agreement to buy all of publicly-traded Cervus Equipment Corp. for $19.50 a share, valuing […] Read more
Charred remnants of a rail bridge destroyed by a wildfire on June 30 are seen during a media tour by authorities in Lytton, B.C. on July 9, 2021. (Photo: Reuters/Jennifer Gauthier)
Crops, Reuters, Weather

Lytton bridge re-opened but grain movement ‘hit and miss’

B.C. wildfires continue to disrupt Prairie grain movement

By ,
Canadian National Railway’s fire-damaged bridge at Lytton, B.C. reopened for traffic Tuesday — but all train movement, including for grain, through British Columbia’s wildfire-ravaged southern Interior, is “hit and miss” and will remain so until the fire risk lessens. “Both (CN and Canadian Pacific Railway) are having troubles because there are so many fires in […] Read more
An undated photo from CN’s media gallery shows a locomotive travelling through the Ashcroft, B.C. area. (CN.ca)
Crops, Machinery and Shop, Weather

CN, CP trains ordered to slow down against fire risk

Ministerial order in effect until Oct. 31

By ,
A new federal ministerial order calls for Canada’s big two railways to significantly cut their train speeds in any areas deemed to be at an “extreme” fire risk. “With extreme weather events occurring more severely and frequently in Canada due to climate change, it is important to have an adaptive regulatory system that responds to […] Read more
(Canada Border Services Agency video screengrab)
General, Reuters

Canada taking first step toward lifting border restrictions

U.S. border restrictions still in place until at least June 21

By
Ottawa | Reuters — Canada on Wednesday took a cautious first step toward easing COVID-19 border restrictions, saying it was prepared to relax quarantine protocols for fully vaccinated citizens returning home starting in early July. Canada’s air and land borders have allowed for only essential travel since March of last year, and Canadians coming home […] Read more
A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)
Crops, Reuters

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

CN confident of regulatory approval

By ,
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)
Crops, Reuters

CN shareholder urges changes to Kansas City Southern deal

Fund manager also holds stake in CP

By ,
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

Special Podcast Series

AgCanadaTV

AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending September 17, 2021.

Sponsored By:
More Videos →

Daily Newsletter

You'll receive current daily news every morning free, as well as market updates and special features.