CP - Kansas City Southern pares gains as U.S. lawmaker warns on proposed railroad deal

Kansas City Southern (KSU) is paring some gains after Congressman Peter DeFazio (D-Oregon) said a proposed railroad merger should set off "alarm bells" and will leave the U.S. economy "worse off.DeFazio, who is chairman of the U.S. House Transportation and Infrastructure Committee, said a potential acquisition of KSU may spark a "new wave of railroad mergers that stifle competition and trigger-industry wide consolidation," according to a Reuters report.Canadian Pacific (CP) agreed to purchase Kansas City Southern last month, though Canadian National (CNI) launched a rival offer this week.

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Kansas City Southern pares gains as U.S. lawmaker warns on proposed railroad deal