OTTAWA (dpa-AFX) - Canadian National Railway Company (CNR.TO, CNI) has sent a letter to the board of Kansas City Southern (KSU) regarding its proposal to acquire KCS in a cash-and-stock deal. CN stated that it is confident that the Surface Transportation Board will not subject the company's proposal to any different standard or scrutiny in approving the voting trust than would be applicable to CP's proposal.
'CP has sought to distract investors and attack CN's proposal with a variety of inaccurate and unfounded assertions. The railroad regulatory approval condition that is relevant to the KCS shareholders is approval of the voting trust, and CN is proposing to use the identical voting trust that CP has proposed,' Jean-Jacques Ruest, CEO said.
Copyright RTT News/dpa-AFX
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