The U.S. rail regulator is giving a green light to Canadian Pacific Railway Ltd.’s takeover of Kansas City Southern Railway Co.
MONTREAL -
While it will remain the smallest of six large railways in the U.S. by revenue, it will operate nearly 33,000 kilometres of rail and employ nearly 20,000 people. However, CN,and the antitrust division of the U.S. Department of Justice have expressed concerns about the merger, warning of threats to competition.
“Even end-to-end mergers, however, can pose competitive risks, and indeed this decision overturns prior agency precedent that did not sufficiently recognize such concerns.” CP and KCS first announced a friendly offer in March of 2021 after a behind-the-scenes duel over the U.S. railway.
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