{"id":480917,"date":"2021-04-22T17:10:58","date_gmt":"2021-04-22T21:10:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/"},"modified":"2021-04-22T17:10:58","modified_gmt":"2021-04-22T21:10:58","slug":"north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/","title":{"rendered":"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n CALGARY, AB<\/span>, April 22, 2021<\/span> \/PRNewswire\/ –\u00a0The North Dakota Grain Dealers Association today filed a letter with the Surface Transportation Board re-iterating its support of the Canadian Pacific (TSX: CP) (NYSE: CP)-Kansas City Southern combination. In the letter, the association also expressed its opposition to the Canadian National bid. <\/p>\n

The full text of the letter reads:<\/p>\n

The North Dakota Grain Dealers Association (NDGDA) hereby files this letter to express its opposition to the bid by CN to acquire KCS and re-iterate its support for the CP-KCS combination.<\/p>\n

As expressed in our initial letter to the Board dated March 30, 2021<\/span>, NDGDA supports swift approval of the CP-KCS combination because of the significant benefits the combination should bring, including expanded markets to the North Dakota<\/span> grain shippers serviced by CP and strengthened competition against the other, larger rail carriers and trucks that serve our members’ markets.<\/p>\n

The backbone of North Dakota’s<\/span> economy is agriculture and over 80% of North Dakota’s<\/span> grain production moves to market by rail. North Dakota’s<\/span> grain shippers are in a captive rail market which limits competition and our options for market destinations. A CP-KCS combination should provide CP grain shippers expanded access to markets across the United States<\/span>, Mexico<\/span>, Canada<\/span>, and even internationally. The bid by CN would effectively end any opportunity for market expansion for North Dakota CP grain shippers.<\/p>\n

In addition, a CPKC network should increase competition between North Dakota’s<\/span> rail carriers and trucks that serve our members’ markets. We expect a combined CPKC network to offer seamless, single-line service that will improve our transportation options and provide a better alternative to the options that already exist. As mentioned, North Dakota<\/span> is a captive rail market but a CPKC network should provide alternatives that would increase competition between North Dakota’s<\/span> Class\u00a01 carriers. A CN-KCS combination would do nothing to benefit North Dakota<\/span> shippers but would instead decrease competition overall.<\/p>\n

Respectfully submitted,<\/p>\n

\n Stu Letcher<\/span>
\n
Executive Vice President
North Dakota Grain Dealers Association<\/p>\n

\n Forward-looking statements and information
<\/b>This news release includes certain forward looking statements and forward looking information (collectively, FLI) to provide CP and KCS shareholders and potential investors with information about CP, KCS and their respective subsidiaries and affiliates, including each company’s management’s respective assessment of CP, KCS and their respective subsidiaries’ future plans and operations, which FLI may not be appropriate for other purposes. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI.<\/p>\n

Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the timing and completion of the transaction, including receipt of regulatory and shareholder approvals and the satisfaction of other conditions precedent\u037e interloper risk\u037e the realization of anticipated benefits and synergies of the transaction and the timing thereof\u037e the success of integration plans\u037e the focus of management time and attention on the transaction and other disruptions arising from the transaction\u037e estimated future dividends\u037e financial strength and flexibility\u037e debt and equity market conditions, including the ability to access capital markets on favourable terms or at all\u037e cost of debt and equity capital\u037e the\u00a0pending share split of CP’s issued and outstanding common shares; potential changes in the CP share price which may negatively impact the value of consideration offered to KCS shareholders\u037e the ability of management of CP, its subsidiaries and affiliates to execute key priorities, including those in connection with the transaction\u037e general Canadian, U.S., Mexican and global social, economic, political, credit and business conditions; risks associated with agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures, including competition from other rail carriers, trucking companies and maritime shippers in Canada<\/span>, the U.S. and Mexico<\/span>; industry capacity; shifts in market demand; changes in commodity prices; uncertainty surrounding timing and volumes of commodities being shipped; inflation; geopolitical instability; changes in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; disruption in fuel supplies; uncertainties of investigations, proceedings or other types of claims and litigation; compliance with environmental regulations; labour disputes; changes in labour costs and labour difficulties\u037e risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; currency and interest rate fluctuations; exchange rates; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; trade restrictions or other changes to international trade arrangements; the effects of current and future multinational trade agreements on the level of trade among Canada<\/span>, the U.S. and Mexico<\/span>; climate change and the market and regulatory responses to climate change; anticipated in-service dates\u037e success of hedging activities\u037e operational performance and reliability\u037e customer, shareholder, regulatory and other stakeholder approvals and support\u037e regulatory and legislative decisions and actions\u037e the adverse impact of any termination or revocation by the Mexican government of Kansas City Southern de Mexico<\/span>, S.A. de C.V.’s Concession; public opinion\u037e various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats and governmental response to them, and technological changes; acts of terrorism, war or other acts of violence or crime or risk of such activities; insurance coverage limitations; material adverse changes in economic and industry conditions, including the availability of short and long-term financing; and the pandemic created by the outbreak of COVID-19 and resulting effects on economic conditions, the demand environment for logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global supply chains.<\/p>\n

We caution that the foregoing list of factors is not exhaustive and is made as of the date hereof. Additional information about these and other assumptions, risks and uncertainties can be found in reports and filings by CP and KCS with Canadian and U.S. securities regulators, including any proxy statement, prospectus, material change report, management information circular or registration statement to be filed in connection with the transaction. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this news release is expressly qualified in its entirety by these cautionary statements.<\/p>\n

\n About Canadian Pacific
<\/b>Canadian Pacific is a transcontinental railway in Canada<\/span> and the United States<\/span> with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid-301275472.html<\/a><\/p>\n

SOURCE Canadian Pacific<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire CALGARY, AB, April 22, 2021 \/PRNewswire\/ –\u00a0The North Dakota Grain Dealers Association today filed a letter with the Surface Transportation Board re-iterating its support of the Canadian Pacific (TSX: CP) (NYSE: CP)-Kansas City Southern combination. In the letter, the association also expressed its opposition to the Canadian National bid. The full text of the letter reads: The North Dakota Grain Dealers Association (NDGDA) hereby files this letter to express its opposition to the bid by CN to acquire KCS and re-iterate its support for the CP-KCS combination. As expressed in our initial letter to the Board dated March 30, 2021, NDGDA supports swift approval of the CP-KCS combination because of the significant benefits the combination should bring, including … <\/p>\n

Continue reading “North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-480917","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNorth Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CALGARY, AB, April 22, 2021 \/PRNewswire\/ –\u00a0The North Dakota Grain Dealers Association today filed a letter with the Surface Transportation Board re-iterating its support of the Canadian Pacific (TSX: CP) (NYSE: CP)-Kansas City Southern combination. In the letter, the association also expressed its opposition to the Canadian National bid. The full text of the letter reads: The North Dakota Grain Dealers Association (NDGDA) hereby files this letter to express its opposition to the bid by CN to acquire KCS and re-iterate its support for the CP-KCS combination. As expressed in our initial letter to the Board dated March 30, 2021, NDGDA supports swift approval of the CP-KCS combination because of the significant benefits the combination should bring, including … Continue reading "North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-22T21:10:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CA53081&sd=2021-04-22\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid\",\"datePublished\":\"2021-04-22T21:10:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/\"},\"wordCount\":1305,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CA53081&sd=2021-04-22\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\\\/\",\"name\":\"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid - 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In the letter, the association also expressed its opposition to the Canadian National bid. The full text of the letter reads: The North Dakota Grain Dealers Association (NDGDA) hereby files this letter to express its opposition to the bid by CN to acquire KCS and re-iterate its support for the CP-KCS combination. As expressed in our initial letter to the Board dated March 30, 2021, NDGDA supports swift approval of the CP-KCS combination because of the significant benefits the combination should bring, including … Continue reading \"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-22T21:10:58+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CA53081&sd=2021-04-22","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid","datePublished":"2021-04-22T21:10:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/"},"wordCount":1305,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CA53081&sd=2021-04-22","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/north-dakota-grain-dealers-association-re-iterates-support-for-cp-kcs-combination-expresses-opposition-to-cn-bid\/","name":"North Dakota Grain Dealers Association re-iterates support for CP-KCS combination, expresses opposition to CN bid - 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