(WASHINGTON D.C.) — On Wednesday, the Surface Transportation Board (STB) announced its approval of a proposed merger between Canadian Pacific (CP) and Kansas City Southern Railway (KCS).
The merger will create a freight rail system linking North America as the two companies combined will operate on tracks stretching from Mexico, through the U.S. and into Canada. The new company, which will be called Canadian Pacific Kansas City, is the largest rail merger in over two decades.
U.S. Senator Kevin Cramer (R-ND) issued the below statement after the Surface Transportation Board (STB) announced its approval of the merger saying; “Today’s decision will expand market access for North Dakota producers, unlock opportunities for commerce in Mexico, and make existing routes across North America more efficient. I appreciate the STB’s thorough process and final approval.”
Opponents of the $31 billion deal announced back in 2021, called for the STB to reject the proposal citing concerns about job losses, fewer choices for customers and more.