CP Rail, Kansas City Southern Merger Gets Green Light from Mexican Regulators
November 26 2021 - 7:56AM
Dow Jones News
By Adriano Marchese
Canadian Pacific Railway Ltd. said Friday that it has received
regulatory approvals from Mexican regulators for its merger with
Kansas City Southern.
The Canadian railroad said regulatory pre-transaction control
approvals were received from the Mexican Federal Economic
Competition Commission as well as from the Mexican Federal
Telecommunications Institute.
"This important milestone marks the next step on our path to
creating the first single-line rail network linking the U.S.,
Mexico and Canada," CP President and Chief Executive Keith Creel
said.
In mid-September, CP agreed acquire KCS in a cash and stock deal
valued at around $31 billion.
The transaction still requires the satisfaction of customary
closing conditions which include approval from stockholders of both
companies.
Meetings of the stockholders are scheduled for Dec. 8 and Dec.
10 for CP and KCS, respectively.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 26, 2021 08:41 ET (13:41 GMT)
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