KSU - Canadian Pacific's Merger Bid Gets a Boost From U.S. Regulator
The U.S. Surface Transportation Board (STB) will consider a proposed $30 billion merger between Canadian Pacific Railway (NYSE: CP) and Kansas City Southern (NYSE: KSU) under more-relaxed guidelines, a big win in Canadian Pacific's effort to gain control of the U.S. railroad.
The two companies last month announced plans to combine to create a railroad that would span North America. Large railroad mergers have been prohibited by the STB since 2001, but those rules included a waiver for Kansas City Southern due to its relatively small size.
Image source: Canadian Pacific.
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Canadian Pacific's Merger Bid Gets a Boost From U.S. Regulator