Citing competition concerns, the U.S. Department of Justice (DOJ) is asking the Surface Transportation Board (STB) not to approve a request by Canadian railway CN (NYSE: CNI) to form a voting trust. The voting trust would be used to acquire Kansas City Southern (NYSE: KSU).
CN is seeking to establish a voting trust as a way to protect Kansas City Southern (KCS) from being taken over as STB reviews CN’s request to merge with KCS. The board had approved a similar request by CN rival Canadian...
https://s29755.pcdn.co/news/doj-asks-regulators-not-to-approve-cn-kcs-voting-trust