KSU - Canadian National CEO said he had a brief phone call with Kansas City CEO

Canadian National Railway (CNI) CEO Jean-Jacques Ruest said he had a brief conversation with Kansas City Southern CEO (KSU) Patrick Ottensmeyer this mornng after CNI made rival bid for the railway operator, topping Canadian Pacific (CP) deal.Ruest said there are about 70 miles of overlapping track where CNI overlaps with KSU network between Baton Rouge and New Orleans and Ruest said that issue can be resolved commercially or other ways."We fully intend to do that," Ruest said in an interview on CNBC. "We want to make sure this will be dealt properly and not be an issue."Ruest said he expects to be able to overcome regulatory concerns.Earlier, Kansas City Southern gains on higher $34B bid from Canadian National.

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Canadian National CEO said he had a brief phone call with Kansas City CEO