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KCS Board now deems CP offer ‘company superior proposal’

IStock Railroad tracks IStock1033284510.jpg
RAIL COMPETITION: Ag groups seek STB action on preventing anticompetitive actions that harm those using rail system.
Company terminates merger agreement with CN, pays $1.4 billion.

Canadian Pacific Railway Limited (CP) announced Sept. 13 that it has completed negotiations of a proposed merger agreement with Kansas City Southern (KCS), which the KCS Board of Directors has deemed a "company superior proposal." The announcement comes after the Surface Transportation Board (STB) rejected Canadian National (CN) and Kansas City Southern's (KCS) joint motion for voting trust approval, citing competitive overlap that undermines the public interests.

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