Canadian Railroads Competing to Acquire Major U.S. Freight Line [Updated May 18, 2021] [open pdf - 775KB]
From the Document: "Canadian Pacific Railway (CP) and Kansas City Southern (KCS), two of the seven Class I companies that handle long-distance U.S. rail traffic, announced a merger agreement in March. In April, another Class I carrier, Canadian National (CN), submitted what it termed a 'superior proposal' to acquire KCS, which was accepted in May. CP may submit a counter-offer. Either deal, if approved by shareholders and federal regulators, would be the largest consolidation of major railroads in several decades, and would create the first railroad network to serve Canada, the United States, and Mexico under a single corporate owner. While this could lead to better service for some shippers, it could also have adverse consequences for competition in freight transportation. Any transaction is likely to undergo lengthy review by the Surface Transportation Board (STB)."
CRS Insight, IN11671
Congressional Research Service: https://crsreports.congress.gov/