Canadian National Railway Co. made its final pitch to a U.S. regulator for approval of a voting trust it wants to use in its proposed US$33.6-billion takeover of U.S. railway Kansas City Southern.
It says there's no harm if it approves the trust until a final ruling on the merits of the transaction is handed down many months from now.
For now, however, CN says the only question before the STB is whether the voting trust agreement satisfies the test for such agreements under its major rail consolidation procedures. Even if CN is required to sell KCS because the merger is rejected, the U.S. railway will be an intact entity.
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