KSU - Kansas City Southern falls after regulator says merger waiver provision does not apply to Canadian National offer
Kansas City Southern ([[KSU]] -2.8%) is having a volatile session after the Surface Transportation Board said its merger rules apply to the company's proposed combination with Canadian National Railway ([[CNI]] +1.7%).Canadian Pacific Railway ([[CP]] -1.6%) had landed a petition for its deal with KSU to be exempt from the STB merger rules, however the agency determined that the application of the waiver provision to the CN-Kansas City transaction is not warranted.Late on Friday, the DOJ said the CN Rail bid for Kansas City Southern poses greater risk to competition than the CP deal.Analysts expects many swings back and forth for KSU, CNI and CP as the merger drama plays on.Shares of Kansas City Southern are still up more than 50% YTD on optimism that a merger deal of some sort will make it to the finish line.
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Kansas City Southern falls after regulator says merger waiver provision does not apply to Canadian National offer