THE Canadian Pacific Railway (CP) has welcomed the US Surface Transportation Board's (STB) ruling to allow cp to use the STB's discovery processes in its campaign to thwart the Canadian National Railway's takeover and further its own bid to take over the Kansas City Southern (KCS) railway.
The STB also noted that CP may seek a waiver from otherwise applicable informational requirements to the extent it cannot obtain information from KCS, such as due to KCS's 'reluctance to cooperate'.
This decision validates CP's plan to submit its application for authority to control KCS in the CP-KCS docket, which will present the STB with the only viable Class I combination that is in the public interest, said CP.
'CP-KCS remains the only viable Class 1 combination. The STB has already approved CP's use of a voting trust and affirmed KCS's waiver from the new rail merger rules it adopted in 2001 because a CP-KCS combination is truly end-to-end, pro-competitive, and the only viable Class 1 combination,' said the CP statement.
CP continues to pursue its application process to acquire KCS so that the pro-competitive CP-KCS combination can be reviewed by the STB and implemented without undue delay, in the event that KCS's agreement with CN is terminated or CN is otherwise unable to acquire control of KCS.
For more information on the benefits of a CP-KCS combination and the risks that a CN-KCS transaction would pose to the railway industry and North America, visit FutureForFreight.com.
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The STB also noted that CP may seek a waiver from otherwise applicable informational requirements to the extent it cannot obtain information from KCS, such as due to KCS's 'reluctance to cooperate'.
This decision validates CP's plan to submit its application for authority to control KCS in the CP-KCS docket, which will present the STB with the only viable Class I combination that is in the public interest, said CP.
'CP-KCS remains the only viable Class 1 combination. The STB has already approved CP's use of a voting trust and affirmed KCS's waiver from the new rail merger rules it adopted in 2001 because a CP-KCS combination is truly end-to-end, pro-competitive, and the only viable Class 1 combination,' said the CP statement.
CP continues to pursue its application process to acquire KCS so that the pro-competitive CP-KCS combination can be reviewed by the STB and implemented without undue delay, in the event that KCS's agreement with CN is terminated or CN is otherwise unable to acquire control of KCS.
For more information on the benefits of a CP-KCS combination and the risks that a CN-KCS transaction would pose to the railway industry and North America, visit FutureForFreight.com.
SeaNews Turkey