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CN (TSX:CNR) requests schedule for voting trust review
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  • CN (CNR) says the railway has received more than 400 additional letters of support since signing an agreement to combine with Kansas City Southern
  • Since the two companies agreed to combine, the overall number of support letters is more than 1,400
  • The than 400 additional letters of support have been filed with the Surface Transportation Board
  • The two companies agreed to combine on May 21
  • CN is down 0.11 per cent, trading at C$135.25 at 11:35 am ET

CN (CNR) has received more than 400 additional letters of support since signing an agreement to combine with Kansas City Southern.

The company says stakeholder support for the proposed pro-competitive combination continues to grow.

The than 400 additional letters of support have been filed with the Surface Transportation Board (STB). Since the two companies agreed to combine, the overall number of support letters is more than 1,400, including a letter of support from Governor John Bel Edwards of Louisiana.

The two companies agreed to combine on May 21.

CN and KCS will continue to communicate and engage with their customers and other key stakeholders as they work towards gaining approval of their voting trust and completing their combination.

No customer will see any reduction in their existing routes.

The companies say the combination, "with the recent commitment to divesting the sole area of overlap and keeping gateways open for customers, creates a fully end-to-end merger and delivers significant public interest benefits for customers, ports, employees, communities and the environment."

Kansas City Southern is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal.

Montreal-based CN transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network.

CN is down 0.11 per cent, trading at C$135.25 at 11:35 am ET.

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