CANADIAN PACIFIC KANSAS CITY LTD., $99.86, Toronto symbol CP, is still a buy for long-term gains. The company took its current form in April 2023 when it acquired U.S.-based railway Kansas City Southern (KCS). CP paid $31 billion U.S. in cash and shares for KCS. At that time, CP investors owned 72% of the merged company, with KCS shareholders holding the remaining 28%. The new CPKC ships freight over a 32,190-kilometre rail network. That line runs mainly between Montreal and Vancouver, with links to hubs in the U.S. Midwest and Northeast. With the addition of KCS, the new company also connects with important hubs and ports on the U.S. Gulf Coast and in Mexico. In 1998, Kansas City Southern and Lanco Group/Mi-Jack formed a 50/50 joint venture (called Panama Canal Railway Company) to operate a 76-kilometre rail line alongside the Panama Canal. The line helps shippers move their goods when water levels in the canal decline. This week, the partners sold this business to a..