The chair of the U.S. House Committee on Transportation and Infrastructure has come out against a proposed voting trust that Canadian railway CN (NYSE: CNI) would use to acquire Kansas City Southern (NYSE:KSU).
The objection comes as other House members have expressed support for merger proceedings between the Class I railroads to continue.
The Monday letter from Rep. Peter DeFazio, D-Ore., calls for the Surface Transportation Board (STB) to reject CN’s proposed voting trust, arguing it is not in...
https://www.freightwaves.com/news/key-house-member-asks-regulatory-body-to-reject-cns-voting-trust