Canadian Pacific Kansas City (CPKC) CEO Keith Creel has raised concerns over Union Pacific’s proposed US$85-billion acquisition of Norfolk Southern, alleging that some shippers have faced pressure to publicly support the merger. The proposed transaction, currently under U.S. regulatory review, could create a railway controlling approximately 40% of American freight traffic, raising concerns about reduced competition and higher shipping costs. CPKC is seeking regulatory safeguards to protect interchange access and customers’ ability to switch rail carriers if the merger is approved. Meanwhile, CPKC reported a 15% increase in third-quarter revenue to $4.22 billion, supported by strong grain and intermodal container volumes, although net income remained largely unchanged at $917 million as rising diesel costs affected profitability.
