These Next 20 Days Could Determine If Canadian National Can Buy Kansas City Southern
The Surface Transportation Board (STB) has established its timetable to consider an application by Canadian National (NYSE: CNI) to place merger target Kansas City Southern (NYSE: KSU) in a voting trust, a key development in the Canadian railroad's planned $33 billion acquisition.
Canadian National last month outbid Canadian Pacific (NYSE: CP) for Kansas City Southern, but the deal must still pass regulatory scrutiny. The railroads expect a drawn-out process to win approval, and Canadian National hopes to use a trust to provide Kansas City Southern shareholders with their compensation prior to the deal winning approval.
Image source: Canadian National.
Source Fool.com
