CP Rail says ruling on CN-KCS merger expected soon; CP not giving up on its own bid
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An eastbound Canadian Pacific train waits in Field, B.C., for the line to be cleared, on Monday, Feb. 4, 2019. THE CANADIAN PRESS/Jeff McIntosh
CALGARY – With a U.S. regulator set to rule soon on Canadian National Railway Co.’s proposed merger with Kansas City Southern, rival Canadian Pacific Railway Ltd. says it stands “ready to re-engage” with KCS if CN’s $33.6-billion takeover bid is rejected.
Canadian Pacific chief executive Keith Creel said Wednesday he expects a decision “within weeks” from the U.S. Surface Transportation Board on whether or not to approve a voting trust CN wants to use in its proposed acquisition of KCS.
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