Canadian Pacific Railway Ltd. has announced it will officially combine with Kansas City Southern Railway Co. on April 14, under the new banner of Canadian Pacific Kansas City.

The U.S. rail regulator approved the US$31-billion this week, clearing the final hurdle in CP91裸聊视频檚 bid to buy KCS and create the only railway stretching from Canada through to the U.S. and Mexico.

91裸聊视频淥ur new combined railroad will create a truly unique single-line network connecting three nations and instantly injecting new competition into the North American rail industry when our supply chains have never needed it more,91裸聊视频� said CP chief executive Keith Creel, who will helm the newly merged company, in a news release Friday.

April 14 was the earliest possible date to complete the merger, based on the U.S. Surface Transportation Board91裸聊视频檚 decision Wednesday.

CP91裸聊视频檚 Nadeem Velani will continue as chief financial officer at the joined company, which will headquarter in Calgary and undergo full integration over the next three years.

To 91裸聊视频渆nsure continuity,91裸聊视频� KCS chief executive Pat Ottensmeyer will advise Creel through the remainder of 2023, CP said.

Surface Transportation Board chair Martin Oberman said Wednesday the acquisition is in line with the public interest. He said that while consolidation in the rail industry has been a concern over the last few decades, KCS is the smallest of the United States91裸聊视频� six Class I railways, and the combined company will remain so 91裸聊视频� making the risk that the deal will reduce competition less of a concern.

There are few overlapping routes between the two railways, Oberman noted. The merger is expected to speed up freight travel time, enhance efficiency and encourage better competition with the other five, larger U.S. railways, he said.

It is also expected to shift about 64,000 truckloads annually from North America91裸聊视频檚 roads to rail.

However, the regulator did attach conditions to the deal, including that the railway keep gateways 91裸聊视频� connection points between the CPKC system and other railways 91裸聊视频� open on 91裸聊视频渃ommercially reasonable terms,91裸聊视频� and to justify in writing any rate increases over a certain level on interline movements.

91裸聊视频淲e acknowledge the thorough and thoughtful consideration put into the STB91裸聊视频檚 final decision, including the conditions it imposes in order to assure that the transaction91裸聊视频檚 public benefits are realized and any potential harms are avoided,91裸聊视频� Creel said on in the Friday statement.

91裸聊视频淲e intend to participate co-operatively and proactively to assist the STB during its oversight process and will honour the conditions the STB has imposed.91裸聊视频�

CP competitor Canadian National Railway Co. had fought a long battle over the acquisition before CP closed the deal in December 2021. CN had wooed KCS away from an initial CP offer with a US$33.6-billion proposal in May 2021 before the U.S. regulator rejected CN91裸聊视频檚 bid in August of that year.

The new Canadian Pacific Kansas City will operate nearly 33,000 kilometres of rail and employ nearly 20,000 people.

The network will stretch from Vancouver and St. John, N.B., to Houston and Mexico City, reaching the Gulf of Mexico and the Pacific Ocean.

91裸聊视频擟hristopher Reynolds, The Canadian Press