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CSAFE Global

 

PortMiami

CP 2Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) ("CP") and Kansas City Southern (NYSE: KSU) ("KCS") recently announced that the Surface Transportation Board ("STB") has accepted the joint CP-KCS merger application as complete.

"We are pleased that the Board has accepted our comprehensive joint application and declared it complete," said Keith Creel, CP President and Chief Executive Officer. "We look forward to moving forward with a robust regulatory review of this historic combination that will add capacity to the U.S. rail network, create new competitive transportation options, support North American economic growth, and deliver other important benefits to customers, employees, and the environment."

“We have reached another important milestone and look forward to playing our part as the STB begins its formal review of the joint application for our historic combination with CP,” said Patrick J. Ottensmeyer, KCS President and Chief Executive Officer. “I would like to thank all those involved in submitting our successful application as part of our continuing work to bring our two companies together.”

In the same decision, the Board also set a procedural schedule for the regulatory review that calls for final briefs on July 1, 2022. CP and KCS anticipate that the STB review of CP's proposed control of KCS will be completed in the fourth quarter of 2022.

CSAFE Global

 

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