CN, KCS Seek Voting Trust Approval In $33.6B Takeover Push

Law360 (May 26, 2021, 4:25 PM EDT) -- Canadian National and Kansas City Southern on Wednesday asked the U.S. Surface Transportation Board to approve the use of a voting trust in their $33.6 billion merger and pledged to sell a railway line to reduce potential competition concerns, in a bid from CN to stay the top suitor for KCS. 

The announcement represents the latest update in an ongoing saga that features interloper Canadian National Railway Co. and target KCS, as well as original acquirer Canadian Pacific Railway Ltd. It all dates back to late March, when CP agreed to buy KCS for roughly $29 billion in a deal the...

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