CN Submits Prefiling Notification To STB To File Application To Combine With Kansas City Southern

(RTTNews) - CN (CNR.TO, CNI) has submitted to the Surface Transportation Board a prefiling notification of its intent to file an application seeking authority to combine with Kansas City Southern (KSU). The notice also confirmed that CN intends to seek approval of the voting trust in the coming days.

The company noted that STB approval of the voting trust would enable Kansas City Southern shareholders to receive full payment of consideration under CN's $325 per share proposal without having to await final STB approval of the transaction.

Jean-Jacques Ruest, CEO of CN, said: "CN has made a superior proposal and is committed to satisfying the current STB merger rules. CN is confident that the STB will approve the voting trust."