CN to buy WC

[Harron]

Hot of the newswire and confirmed by several reports, CN has made a bid to buy WC. Everyone's holding their breath for the STB ruling on this one, to see if it constitutes a major merger. CN is reportedly paying 1.2 billion for the deal.

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Corey Lynch
Pres - Rensselaer Model RR Society, NEB&W RR
http://www.rpi.edu/~lynchc/Railfanning/railfanning.htm - My Site
http://www.union.rpi.edu/railroad/ - NEB&W

[rsn48]

Interesting....!!!!!
If the merger goes through, the only major player to be hurt by this is Australia. I can't see CN continueing to own the line in Australia...I could be wrong...and this is my opinion, but that would be major new leap for them. And I don't see what's in it for them, I thought I read recently that WC was taking a bath on Australian line.

[BryGy]

Here is an article posted on Trains.com (http://Trains.com) about the CN/WC Merger (http://www.trains.com/Content/Dynamic/Articles/000/000/000/551ppkrr.asp). The article mentions that WC will have to sell its minority stake (42.5%) in the English, Welsh & Scottish Railway Holdings Ltd. subsidiary, but it made no mention of an Austrailian subsidiary.

Bry

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[Davecn5623]

Wow !! I have not heard this one yet !

The employees are the last to know ! http://www.trainboard.com/biggrin.gif

Could be a good merger , the CN IC merger went really smooth .

[rsn48]

I wonder if Australia under the english company, I know WC is there I have read articles about it.