Reuters
UPDATE - CN Rail gets approval for BC Rail takeover
Friday July 2, 2:37 pm ET
By Allan Dowd
(Adds new details, background. Previous TORONTO)
VANCOUVER, British Columbia, July 2 (Reuters) - Canada's Competition Bureau gave the green light on Friday to Canadian National Railway Co.'s (Toronto:CNR.TO - News) controversial C$1 billion ($760 million) takeover of BC Rail's operations, officials said.
Canadian National expects to close the deal with the British Columbia government in mid-July. BC Rail is Canada's third largest railway, and one of North America's last mid-size railways to remain independent or government owned.
The bureau required CN to give BC Rail's customers direct access to rivals Canadian Pacific Railway Ltd.(Toronto:CP.TO - News), Union Pacific Corp.(NYSE:UNP - News), and Burlington Northern Santa Fe Corp. (NYSE:BNI - News). The three firms also exchange freight traffic with BC Rail in Vancouver.
UPDATE - CN Rail gets approval for BC Rail takeover
Friday July 2, 2:37 pm ET
By Allan Dowd
(Adds new details, background. Previous TORONTO)
VANCOUVER, British Columbia, July 2 (Reuters) - Canada's Competition Bureau gave the green light on Friday to Canadian National Railway Co.'s (Toronto:CNR.TO - News) controversial C$1 billion ($760 million) takeover of BC Rail's operations, officials said.
Canadian National expects to close the deal with the British Columbia government in mid-July. BC Rail is Canada's third largest railway, and one of North America's last mid-size railways to remain independent or government owned.
The bureau required CN to give BC Rail's customers direct access to rivals Canadian Pacific Railway Ltd.(Toronto:CP.TO - News), Union Pacific Corp.(NYSE:UNP - News), and Burlington Northern Santa Fe Corp. (NYSE:BNI - News). The three firms also exchange freight traffic with BC Rail in Vancouver.
If Conductors are in charge, why are they promoted to be Engineer???
Retired Triebfahrzeugführer. I am not a moderator.
Retired Triebfahrzeugführer. I am not a moderator.