Introduction The US Surface Transportation Board (‘STB’ or ‘Board’) [1] dealt a fatal blow to the proposed union of Montreal-based Canadian National Railway Co. (‘CN’) and Kansas City Southern railway (‘KCS’) (collectively the ‘applicants’) after a ruling on 31 August 2021 [2] that it would not approve a proposed joint voting trust application [3] as a first step in a merger of the two railroads [4]. CN said following the STB decision that it was "evaluating the options available to us in light of the STB’s decision " [5]. For its part, KCS said "we are disappointed in the STB’s decision to reject CN’s proposed voting trust. We are working with CN to evaluate the options available to us " [6]. Original KCS suitor Calgary-based Canadian Pacific Railway Ltd. (‘CP’) indicated immediately after the
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The US Surface Transportation Board denies an application for a voting trust as a first step in a merger review involving a Canadian and an American railroad (CN / KCS)
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