CN Asks U.S. to Order Divestiture of KCS Line in Canadian Pacific, KCS Deal
March 01 2022 - 04:27PM
Dow Jones News
By Stephen Nakrosis
Canadian National Railway Co. said Tuesday it asked the U.S.
Surface Transportation Board to add the divestiture of the KCS line
to CN as a condition to the approval of the pending Canadian
Pacific and Kansas City Southern merger.
CN said divestiture of the line, which runs from Kansas City,
Missouri to Springfield and East St. Louis, Illinois "will provide
customers with a new competitive option to move goods across a key
North American economic corridor."
Rob Reilly, CN's executive vice president and chief operating
officer, said "CN has a comprehensive plan for the Kansas City
Speedway that will increase competition, create jobs, reduce
roadway congestion, and positively impact the environment."
In September of last year, Canadian Pacific said it would take
over Kansas City Southern in a $27 billion deal.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 01, 2022 16:12 ET (21:12 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Canadian National Railway (TSX:CNR)
Historical Stock Chart
From Feb 2024 to Mar 2024
Canadian National Railway (TSX:CNR)
Historical Stock Chart
From Mar 2023 to Mar 2024