Rail merger on track after US$25bil deal

CP Rail yesterday agreed to buy Kansas City Southern for US$25bil (RM103mil), creating the first railroad to traverse Canada, the US and Mexico.

TORONTO: Canadian Pacific Railways Ltd’s (CP Rail) Keith Creel for years followed in the footsteps of his mentor, Hunter Harrison, an industry legend whose revolutionary efficiency strategy became the standard at all the major North American railroads.

Now, the protege has a good shot at achieving a major merger - something that Harrison, who died in late 2017 at age 73 during a turnaround effort at CSX Corp, couldn’t after several failed tries.