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Kansas City Southern rejects Canadian Pacific’s merger proposal in favor of Canadian National

May 26th, 2021

The battle to form North America’s first end-to-end rail network is heating up.

Kansas City Southern rejected Canadian Pacific’s merger offer and accepted a more lucrative deal proposed by Canadian National.

A Canadian National transfer to the nearby Union Pacific yard is about to depart CNs yard in Council Bluffs, IA, in 2013. Kansas City Southern recently agreed to merge with CN and rejected a similar proposal by Canadian Pacific. – Craig Walker

KCS’s Board of Directors announced last week that CN’s $33.6 billion offer, which came a few weeks after receiving an offer from CP to buy the nation’s smallest Class I railroad, constitutes a superior proposal. The board voted to terminate CP’s $29 billion proposal, which pitched forming a seamless Canada-U.S.-Mexico network, and accept a similar offer by CN.

Under the terms of the CN merger agreement, upon closing each share of KCS common stock will be exchanged for $200 in cash and 1.129 shares of CN common stock. Closing will be subject to customary conditions, including KCS stockholder approval and approval by the Surface Transportation Board of CN’s proposed voting trust.

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  • News

Atlas acquires M.T.H. Electric Trains Premier O-scale tooling, buys River Point Station N vehicles

May 7th, 2021

Atlas Model Railroad Co. announced this spring that it has acquired two product lines, including M.T.H. Electric Trains’ Premier O-Scale Locomotive and Rolling Stock lines.

The company also bought N-scale vehicle tooling from River Point Station Fine Scale Models.

Atlas Model Railroad Co., will begin production of rolling stock formerly produced under M.T.H. Electric Trains’ Premier O-Scale brand with the Reading Blue Mountain and Northern Madison 70-foot passenger car. Atlas recently acquired tooling for the line, which includes freight and passenger cars, M.T.H. Electric Trains plans to close later this year. – Atlas Model Railroad Co.

Molds and tooling sold to Atlas include Premier diesel locomotives, freight cars and passenger cars. A number of O-scale RailKing accessories are part of the deal.

Atlas also acquired a license for the MTH Proto-Sound 3 Sound & Control Electronics Boards, which enable control via DCS (Digital Command System). Part of the license will give Atlas the option to sell DCS components.

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  • Model Railroading / News

Eye on the Future

May 4th, 2021

President Joseph R. Biden speaks at Amtrak’s 50th Anniversary celebration April 30 in Philadelphia with a cast of locomotives behind. Amtrak has big plans to enhance service and infrastructure. – Amtrak

  • News

Canadian National ups ante to create border-to-border North American railroad with KCS

Apr 23rd, 2021

Canadian National announced this week an offer to acquire Kansas City Southern in a cash-and-stock transaction valued at $33.7 billion, or $325 per share. The offer, submitted in a letter to KCS’s board of directors, follows a $29 billion offer from Canadian Pacific Railway in March to buy the nation’s smallest Class I railroad.

Under the terms of the proposal, following closing into a voting trust, KCS shareholders will receive $200 in cash and 1.059 shares of CN common stock for each KCS common share. Based on the March 19, 2021, closing price of CN shares, CN’s proposal is valued at $325 per KCS share.

The offer represents a 21% improvement over the current value of KCS’ agreement with CP, CN said in a release.

In the proposal submitted to KCS’s board of directors, CN President and CEO JJ Ruest said combining the companies offers greater choice and efficiencies for customers. He added that CN has long admired KCS’s customer-focused vision and commitment to safety, service and performance.

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  • News

Canadian Pacific acquiring Kansas City Southern to create seamless Canada, U.S., Mexico rail network

Mar 22nd, 2021

Canadian Pacific Railway is acquiring Kansas City Southern for $29 billion (USD) in stock and cash, creating North America’s first rail network connecting Canada, the U.S. and Mexico, the companies announced Sunday.

The new company will be called Canadian Pacific Kansas City (CPKC).

Once approved by the U.S. Surface Transportation Board, the combined Canadian Pacific and Kansas City Southern company will be known as Canadian Pacific Kansas City or CPKC. – Stan Ujka

While remaining the smallest of six U.S. Class 1 railroads by revenue, the combined company will be much larger and more competitive, operating approximately 20,000 miles of rail, employing close to 20,000 people and generating revenues of approximately $8.7 billion based on 2020 numbers.

The deal values KCS shares at $275 each — 23 percent above Friday’s close — and is subject to approval of the U.S. Surface Transportation Board. CP will assume $3.8 billion in KCS outstanding debt, valuing the deal at $25 million.

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  • Modern Freight

    When modeling a particular era, some agonize over what constitutes an appropriate freight car for the period. Today’s trains can be far more diverse in freight type and age than one from the 1970s. They are built better to last longer and are more varied to meet shippers’ needs.

    Design, build date and service life are factors in determining the modern era of freight cars. See our overview of the types of freight cars in service today on the North American rail network, based on manufacturer and railroad data.

  • Brewing up an Industry

    Details make the difference in Campbell’s brewery kit on the Mystic Branch HO model railroad. The scene is loaded inside and out with accoutrements that are readily available, plus some that require a little imagination and haphazard materials found on the workbench. And even a little trash.

     

     – Gene Mangum

     

  • Imagining a Railroad

    Columnist Michelle Kempema, who recently began sharing her insights with the Cowcatcher, opens model railroading’s world of free-spirited imagination after becoming the new owner of the Big Turn & Southern Railway.

  • PLUS…

    The NMRA is changing, one member at a time. Marketing consultant Christina Zambri is striving to improve the long-time organization’s visibility and image. …

     

    The Surface Transportation Board now requires certain railroads to submit service recovery plans in an effort to speed up rail traffic. …

     

    Fifty years since the last trolley ran, East Troy (WI) welcomes MVPS No. 56 for restoration and an eventual return to service. …

     

     

    THESE STORIES AND MORE, PLUS A FULL CALENDAR OF UPCOMING EVENTS AND THE BUSINESS PULSE OF THE RAILROAD INDUSTRY!

     

  • Whitehurst & Pine Ridge Railroad





    Visit the new N-scale Whitehurst & Pine Ridge Railroad, the official model railroad of the Cowcatcher Magazine, and track progress. All aboard!
  • Product News & Review

    InterMountain HO ADM Corn Syrup Car

     

    The Cowcatcher reviews InterMountain Railway Co.’s newly released HO-scale Trinity Industries 19,600-gallon corn syrup car. The tank car is one of several in the company’s second release.

     

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