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CP’s letter, reproduced below in full, comes three days after CN proposed a voting trust using the same trustee, former KCS President and CEO Dave Starling. “STB has already decided that CP’s proposed use of a voting trust is subject to the pre-2001 merger rules, which entails different standards and processes than those governing CN proposal for review under current regulations,” CP said. The letter is from whom many industry observers say is arguably one of the best railroad regulator...

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CP: CN’s Voting Trust Rationale ‘Contrary to Law’ April 27, 2021 Washington D.C. attorney David L. Meyer. Yet another letter. Be warned: This one, nearly 3,000 words, is from Canadian Pacific’s attorney to the Surface Transportation Board. It essentially says CN has it totally wrong by asking the STB to approve a voting trust for its proposed acquisition of Kansas City Southern under the same conditions as a CP-KCS combination. CP’s letter, reproduced below in full, comes three days a...

CP Addresses CNs Contention that Voting Trust Proposals Should Be Reviewed Under Same Standards and Processes News provided by Share this article Share this article STB has already decided that CPs proposed use of a voting trust is subject to the pre-2001 merger rules, which entails different standards and processes than those governing CN proposal for review under current regulations CALGARY, AB, April 27, 2021 /PRNewswire/ - Today, Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) filed ...

CN Letter: Former STB General Counsel Weighs In April 23, 2021 Inset: Former STB General Counsel Ray Atkins. CN image by CN. Composite illustration: Railway Age. The letters keep coming! CN on April 23 filed a letter with the Surface Transportation Board regarding CN’s “superior proposal to acquire Kansas City Southern in a cash-and-stock transaction valued at $33.7 billion, or $325 per share.” CN “lays out in detail why its proposal is pro-competitive and in the best interest of custom...

Dear Ms. Brown: I am writing on behalf of the Canadian Pacific Applicants. 1  As the Board is no doubt aware, Canadian National (CN) has made an unsolicited offer to acquire Kansas City Southern (KCS), and has asked the Board of Directors of Kansas City Southern to consider that offer.  CN Press Release (Apr. 20, 2021).  CN has informed KCS that its proposal "would require the same regulatory approvals as those required under the agreement with CP" and that CN would seek to "obtain[] such re...

April 8, 2021 at 12:03 PM Shares0 Navigating market volatility. Assessing clawback risks. Responding to new phenomena like “meme stocks.” Today’s financial services GCs continue to face new challenges — and they’re arising at an ever-accelerating pace.  To keep you up to speed in this environment, we’ve launched Finance Docket, a newsletter featuring discerning analysis of industry trends along with sharp roundups of the news of the day.  Finance Docket draws on our leading public...