Merger Will Move Railway’s US Headquarters from Minneapolis
MINNEAPOLIS (AP) -- Canadian Pacific Railway's acquisition of Kansas City Southern means Minneapolis will no longer be the company's U.S. headquarters, but what impact that will have on its employees in the Twin Cities is still unknown.
The $25 billion deal in cash and stock was announced Sunday. It creates the first rail network linking the United States, Mexico and Canada.
Railway officials say Kansas City, Missouri will be designated as the new U.S. headquarters for Canadian Pacific Kansas City, or CPKC.
The combined company would operate about 20,000 miles of railway, employ 20,000 people and generate annual revenue of about $8.7 billion.