Canadian National’s $33.6B bid to buy US railroad hits snag – U. S. News and World Report May 17, 2021

I saw this on U. S. News and World Report – Canadian National’s $33.6B bid to buy US railroad hits snag: Slightly longer article, but here’s a brief synopsis.

By Associated Press May 17, 2021

OMAHA, Neb. — Regulators on Monday dealt a procedural blow to Canadian National’s $33.6 billion plan to acquire Kansas City Southern railroad.

The U.S. Surface Transportation Board rejected Canadian National’s plan to set up a voting trust that would acquire Kansas City Southern and own the railroad while regulators review the deal. The STB said it couldn’t review Canadian National’s plan now because it doesn’t include a detailed merger agreement.

Canadian National described the decision as a minor setback. It said it will now resubmit the plan along with the merger agreement it finalized last week. Kansas City Southern said Thursday that Canadian National’s offer was better than the $25 billion deal it had made with rival Canadian Pacific railroad a month earlier.


About Wichita Genealogist

Originally from Gulfport, Mississippi. Live in Wichita, Kansas now. I suffer Bipolar I, ultra-ultra rapid cycling, mixed episodes. Blog on a variety of topics - genealogy, DNA, mental health, among others. Let's
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