STB Applies heavier Burden and Greater Scrutiny to CN Bid for KCS, Underscoring Heightened Regulatory Risk prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ("CP") today provided the following statement regarding Kansas City Southern s ("KCS").
CP Concurs with DOJ Comment Affirming Anticompetitive Nature of CN Bid for KCS
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CP-KCS Remains Only Class 1 Transaction with Ability to Close into Voting Trust
CALGARY, AB, May 14, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ( CP ) today issued the following statement in response to the Department of Justice ( DOJ ) filing with the Surface Transportation Board ( STB ) regarding Canadian National s ( CN ) proposed use of a voting trust in connection with its proposed combination with Kansas City Southern ( KCS ).
CP concurs with the DOJ s objection to CN s application forproposed use of a voting trust on the grounds that a CN merger with KCS would pose greater risks to competition than the CP-KCS agreement. The filing notes: A CN-KCS transaction poses additional dangers to competition stemming from the potential elimination of direct, parallel competition on routes served by both railroads, fo
Supporters Urge the STB to Review the Transaction Efficiently to Realize Benefits to All Stakeholders
CALGARY, AB, May 10, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ( CP ) today announced that another 131 stakeholders filed statements with the Surface Transportation Board ( STB ) on May, 8, 2021 in support of its planned, friendly merger with Kansas City Southern ( KCS ), bringing the total to close to 550 supporters across the transportation supply chain in North America.
The statements follow previous filings with the STB in support of the CP-KCS transaction and those opposing Canadian National s counterbid for KCS. Customers and other supporters stated they expect the combination of CP and KCS would, among other benefits, invigorate transportation competition, expand access to existing and growing markets and provide new service offerings that would improve transit times and reliability along the Canada-U.S.-Mexico corridor.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Canadian Pacific Files Formal Objection to Canadian National Using Merger Waiver that STB Granted To CP/KCS Transaction
May 1, 2021 GMT
Figure 1 (CNW Group/Canadian Pacific)
Letter outlines six principal arguments for why the CN/KCS transaction be reviewed under 2001 merger rules
CN/KCS transaction plainly flunks the “end-to-end” test for applying the pre-2001 rules
CALGARY, AB, May 1, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (“CP”) (TSX: CP) (NYSE: CP) yesterday filed a formal objection with the Surface Transportation Board (“STB”) stating that Canadian National (“CN”) does not qualify for a waiver of the STB’s rules for major transactions with respect to CN’s unsolicited proposal for Kansas City Southern (“KCS”).