Justice Department urges regulator to nix CP Rail share swap ahead of merger
(Source: American Journal of Transportation, April 13, 2021)
NEW YORK — The U.S. Department of Justice urged the regulator that oversees rail mergers to keep Canadian Pacific Railway Ltd. and Kansas City Southern from combining their shares before their proposed merger and said it might intervene further in the review of the deal. In a letter to the Surface Transportation Board, which oversees U.S. railroads, the Justice Department also called for using the tougher standard adopted in 2001 for mergers in the industry. That standard requires that mergers be in the public benefit and enhance competition.
Full story: www.ajot.com
Wednesday, April 14, 2021
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