OTTAWA (dpa-AFX) - Canadian Pacific Railway Limited (CP, CP.TO) said it has filed a reply to Canadian National or 'CN' and Kansas City Southern's or 'KCS' joint motion for voting trust approval with the Surface Transportation Board or 'STB'.
In urging the STB to reject CN and KCS' voting trust application, CP detailed the significant public interest harm associated with a voting trust and potential CN-KCS combination.
Canadian Pacific noted that STB approval of a CN-KCS voting trust would instantly reduce competition, create immediate pressure for downstream consolidation.
A CN-KCS combination is not in public interest, while CP-KCS remains only viable, pro-competition Class 1 combination, Canadian Pacific said.
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