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Rail News: Canadian National Railway - CN

CN sends STB more letters of support for proposed KCS deal


CN today announced today that it has received more than 1,000 letters of support for its proposed acquisition of Kansas City Southern.

The number of letters, which have been filed with the Surface Transportation Board, is nearly double the number of support letters filed by Canadian Pacific in less than half the time, CN officials said in a press release.

CN will continue to communicate and engage with its customers and various stakeholders as it works towards an agreed-upon transaction with KCS, they said.

In March, CP and KCS announced a merger agreement in which CP would acquire KCS in a stock and cash transaction valued at $275 per KCS share. Weeks later, KCS received an unsolicited proposal from CN to acquire KCS in a cash and stock transaction, valued by CN at $325 per share.

Contact Progressive Railroading editorial staff.

More News from 5/12/2021