CPKC Completes KCS Acquisition
Ticker: CP · Form: 8-K · Filed: Apr 24, 2024 · CIK: 16875
Sentiment: bullish
Topics: acquisition, merger, transportation, railroad
Related Tickers: KSU
TL;DR
CPKC finally owns all of KCS, closing the $3.1B deal.
AI Summary
On April 23, 2024, Canadian Pacific Kansas City Limited (CPKC) filed an 8-K to report the completion of its acquisition of 50% of the outstanding shares of the Kansas City Southern Railway Company (KCS) from the trust established for the benefit of KCS shareholders. This transaction, valued at approximately $3.1 billion, marks the final step in CPKC's acquisition of KCS, which was initially announced in September 2021.
Why It Matters
This filing signifies the full integration of Kansas City Southern into Canadian Pacific, creating a single, unified North American railway network.
Risk Assessment
Risk Level: low — This is a routine filing confirming the completion of a previously announced and approved acquisition.
Key Numbers
- $3.1B — Acquisition Value (Final transaction amount for KCS shares)
Key Players & Entities
- Canadian Pacific Kansas City Limited (company) — Registrant
- Kansas City Southern Railway Company (company) — Acquired company
- $3.1 billion (dollar_amount) — Value of the acquisition
- April 23, 2024 (date) — Date of the event
- September 2021 (date) — Date of initial announcement
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose is to report the completion of Canadian Pacific Kansas City Limited's (CPKC) acquisition of the remaining 50% of Kansas City Southern Railway Company (KCS) shares.
What was the approximate value of the final transaction for KCS shares?
The approximate value of the final transaction for the remaining 50% of KCS shares was $3.1 billion.
When did CPKC initially announce its intention to acquire KCS?
CPKC initially announced its intention to acquire KCS in September 2021.
What specific action did CPKC take on April 23, 2024, related to KCS?
On April 23, 2024, CPKC completed its acquisition of 50% of the outstanding shares of KCS from the trust established for KCS shareholders.
What is the significance of this acquisition completion for CPKC?
The completion signifies the full integration of KCS into CPKC, creating a single, unified North American railway network.
Filing Stats: 519 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-04-24 16:16:06
Key Financial Figures
- $0.19 — ectors declared a quarterly dividend of $0.19 per share on the Corporation's outstand
Filing Documents
- d826136d8k.htm (8-K) — 28KB
- d826136dex991.htm (EX-99.1) — 3KB
- g826136g28e72.jpg (GRAPHIC) — 9KB
- 0001193125-24-110120.txt ( ) — 206KB
- cp-20240423.xsd (EX-101.SCH) — 3KB
- cp-20240423_def.xml (EX-101.DEF) — 15KB
- cp-20240423_lab.xml (EX-101.LAB) — 24KB
- cp-20240423_pre.xml (EX-101.PRE) — 15KB
- d826136d8k_htm.xml (XML) — 6KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description Exhibit 99.1 Press Release dated April 23, 2024. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 24, 2024 CANADIAN PACIFIC KANSAS CITY LIMITED By: /s/ Nizam Hasham Name: Nizam Hasham Title: Assistant Vice-President, Securities & Assistant Corporate Secretary