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Regulator rejects Canadian National Railway's proposed voting trust
... proposed by Canadian National Railway Co for its $29 billion deal to buy U.S. railroad operator Kansas City Southern. The rail regulator's decision is a blow to Canadian Pacific Railway Ltd., which is locked in a takeover battle for Kansas City with ... ... trust was approved by the STB when the company struck a $25 billion deal in March, but later was trumped by Canadian Pacific. CP then increased its offer to $27 billion this month, hoping antitrust concerns would give it an edge over its larger rival, ...
Updated: 08/31/2021
Kansas City Southern rejects $33. 6 B bid from Canadian National
... said they don't think the CN 's deal can get approved. They argue that the acquisition would hurt competition across much of the central United States because those railroads operate parallel railway lines connecting the Gulf Coast to the Midwest. CP officials have also said that CN 's plan would add to rail congestion in the Chicago area, and it would likely inspire other railroads to attempt mergers. Can Canadian National says it can address competitive concerns by selling its operating plan and 70 miles of track between Baton Rouge and New Orleans ...
Updated: 08/13/2021
CP Rail says unsolicited bid for Kansas City Southern not superior
... Railway Co? Aug 12 - Canadian National Railway Co . said on Thursday its Board determined that the unsolicited proposal received from Kansas City Southern does not constitute a superior proposal to its agreement with the Canadian Pacific Railway Co. CP Rail presented a new $27 billion offer for U.S. peer Kansas City Southern on Tuesday, lower than a $29 billion rival bid from CN Rail , hoping antitrust concerns over the latter will give it an edge. It said it continues to recommend shareholders vote ...
Updated: 08/12/2021
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