Re: Proposed Sale of Wisconsin Central

[Adam <adamdunning@start.com.au>]

It's not proposed, it's happening

CN Buys Wisconsin Central Canadian National is buying Wisconsin Central
for US$1,2bn, the companies announced on Tuesday. The takeover cost
includes US$400m in WCTC debt. The deal is for the WC railway, not the
corporation itself, which owns other railways around the world. CN
chief executive Paul Tellier said in a release that the merger
would "secure a link in CN's NAFTA network - the mainline railroad
connecting Chicago, Superior, Wis., and CN's transcontinental network
across Canada." Under a 1998 agreement, WCTC already hauls CN freight
between Superior and Chicago. CN has previously taken over Illinois
Central but broke off a merger with Burlington Northern Santa Fé after
the US Surface Transportation Board competition authority put a
moratorium on reviewing mergers. "Both CN and WCTC believe the
transaction should be treated as a minor one by the STB, but if it is
not, CN reserves the right to terminate the merger agreement without
penalty," CN said. See also the press release. (January 30th, thanks
Bengt Mutén)

Source: http://eriksrailnews.com/

Adam

In article <3A77D5FD.F1D7BA85@hermes.net.au>,
  David & Julie Donald <dsjmd@hermes.net.au> wrote:
> Anyone care to speculate on the impact of the proposed purchase of
Wisconsin
> Central by Canadian National on ATN, TranzRail, and even entities
like EWS ?
>
> Could this give CN a foothold in Australia, leading to interest in
FreightCorp
> and NRC ??
>
> --
>
> Regards
>
> David Donald
> Springwood, NSW
>
> dsjmd@hermes.net.au
>
>


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