KSU - Canadian National commits to selling stretch of Louisiana track in Kansas City Southern deal

Canadian National Railway (CNI) and Kansas City Southern (KSU) filed a motion with the U.S. Surface Transportation Board for approval of its voting trust.As part of the application Canadian National is committing to divest KCS’ 70-mile line between New Orleans and Baton Rouge, which is less than 0.7% of the approximately 27,000 route-miles the two companies operate, according to a statement.Canadian National said the offer to sell the line eliminates the "sole area" of overlap between CNI and KCS networks.Last week, Kansas City Southern picks Canadian National Railway as Canadian Pacific is boxed out.Canadian National CEO Jean-Jacques Ruest said about a month ago that he believed a KSU deal could overcome antitrust concerns, specifically the 70 miles of overlapping track.

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Canadian National commits to selling stretch of Louisiana track in Kansas City Southern deal