Almost 30 years after what was then known as the North American Free Trade Agreement (NAFTA) went into effect, North America finally has a railroad that connects Canada, the United States and Mexico on the same rail line.
Federal regulators have approved Canadian Pacific's $31B acquisition of Kansas City Southern. The combined carrier will be known as Canadian Pacific Kansas City (CPKC).
This week's decision by the Surface Transportation Board paves the way for the two railroads to merge next month, the first merger of two railroads since the 1990s. Prior to the deregulation of the railroad industry in the 1980s, there were 39 Class I railroads in North America. With this merger, that number will be reduced to six.
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