Justice Department, CP and KCS spar over rail merger process

A photograph of two locomotives. One is from Canadian Pacific and the other is from Kansas City Southern.

The U.S. Department of Justice (DOJ) and Canadian Pacific (NYSE: CP) disagree on whether CP’s use of a voting trust during its proposed acquisition of Kansas City Southern (NYSE: KSU) will interfere with how regulators review the merger.

To facilitate the merger, CP and Kansas City Southern (KCS) plan to establish a voting trust to acquire KCS shares, pending shareholder approval. CP says that putting KCS shares in a voting trust will insulate KCS from control by CP until the Surface...

https://www.freightwaves.com/news/justice-department-cp-and-kcs-spar-over-rail-merger-process

Leave a Comment

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon