Canadian Pacific (CP) Acquires Central Maine & Quebec Railway
Zacks Investment Research | Jan 01, 2020 08:20PM ET
Canadian Pacific Railway Limited (NYSE:CP) completed its previously announced (on Nov 20, 2019) acquisition of Central Maine & Quebec Railway (CMQ). However, the buyout is pending approval from the Surface Transportation Board in the United States.
Apart from strengthening the company’s presence in eastern United States, the buyout will enhance customer experience by providing a smooth, secure and efficient access to ports at Searsport, ME, and to Saint John, New Brunswick, via Eastern Maine Railway Company (EMRY) and New Brunswick Southern (NYSE:SO) Railway (NBSR).
Prudent cost management owing to the precision scheduled railroading model is aiding Canadian Pacific to generate significant earnings growth. In fact, the company’s operating ratio (operating expenses as a percentage of revenues), a key measure of efficiency, has been improving over the last several quarters owing to its cost-control measures.
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