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KCS merger meets resistance from DOJ
Author: ho hum
Date: 04-16-2021 - 08:58

Dept of Justice puts up resistance to the KCS/CP merger.

[www.nasdaq.com]

QUOTES:
...In a letter to the Surface Transportation Board filed April 12, a top DOJ official cautioned against the railroad regulator accepting the trust plan without close scrutiny.

...The DOJ argues in its letter that the STB should apply all the review standards written back in 2001 to this transaction. "As the first major rail merger in over two decades, this proposed transaction presents important and novel competition issues that have the potential to significantly reshape the industry," Powers wrote.

The railroads, unsurprisingly, disagree. In a response filed with the STB, the railroads say applying the strict moratorium rules to this transaction "would unnecessarily complicate and prolong the Board's review of the proposed combination."
...

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Subject Written By Date/Time (PST)
  KCS merger meets resistance from DOJ ho hum 04-16-2021 - 08:58
  Re: KCS merger meets resistance from DOJ J 04-16-2021 - 09:53


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