CN and Canadian Pacific vie for shippers’ and KCS shareholders’ favor
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Rivals CN (NYSE: CNI) and Canadian Pacific (NYSE: CP) are vying to win the public’s favor for which Canadian railway is better suited to merge with Kansas City Southern (NYSE: KSU).
CP and Kansas City Southern (KCS) announced their agreement to merge in March, while CN announced its plans to acquire KCS in April. In both situations, the end result would be a railroad with a network that touches both Canadian coasts and heads south through the U.S. Midwest and into Mexico.
On Monday, CP said more than 110 customers and stakeholders have filed letters to the Surface Transportation Board (STB), the regulatory body that will review the merger. The letters express concerns or oppose CN’s bid to acquire KCS, according to CP.
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