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CN-KCS merger to be judged under stricter rules, STB says

(Source: Bloomberg, May 17, 2021)

NEW YORK — Canadian National Railway Co.’s proposal to acquire Kansas City Southern will be judged under stricter regulations adopted in 2001, the U.S. regulator said in an expected decision that lays the ground rules for what would be the first major rail merger in more than two decades. The Surface Transportation Board also denied the railroad’s initial request to use a voting trust for the share transaction, saying the petition was incomplete because in part it referred to a merger agreement that wasn’t provided.

Full story: Financial Post

Tuesday, May 18, 2021

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