CN Refiles Petition to Place KCS in Voting Trust

Canadian National and Kansas City Southern on Wednesday filed with the U.S. Surface Transportation Board a plan to place KCS into a voting trust while their merger is being reviewed by regulators.

The voting trust must be approved by the STB, which then would consider the merger itself.

The filing said the voting trust would protect against premature CN control of KCS and protect KCS’ financial health.

CN said it would sell the 70-mile KCS line between New Orleans and Baton Rouge in order to maintain competion in that corridor.

The petition said this is the sole area of overlap between the CN and KCS networks, thereby making the combination an end-to-end transaction.

CN also pledged to maintain multiple other pro-competitive commitments, including keeping existing gateways open on “commercially reasonable terms.”

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