(Source: Freight Waves, March 23, 2023)
Federal regulators approved Canadian Pacific’s $31 billion acquisition of Kansas City Southern on March 15. The decision is effective April 14 and will form a new rail carrier to be called Canadian Pacific Kansas City (CPKC). In 1980, there were 33 “Class I,” or major, rail companies. Next month, just six Class I rail carriers — two based in Canada — will service the U.S. These companies employ 88% of all freight rail workers and command 94% of industry revenue, according to 2021 numbers.
Full story: Freight Waves