Canadian Pacific Railway, Kansas City Southern Merger Proposal Gets CFIUS Nod

(RTTNews) - Canadian Pacific Railway Limited (CP) said on Tuesday that it has received necessary regulatory approval from the Committee on Foreign Investment in the United States or CFIUS, for its proposed merger with Kansas City Southern or KCS, a transportation holding company with railroad investments.

CP has completed its acquisition of KCS last year.

In the post acquisition, the shares of KCS were placed into a voting trust which ensures KCS will operate independently of CP, while the U.S. Surface Transportation Board completes its regulatory review of the companies' joint railroad control application to create Canadian Pacific Kansas City, the only single-line railroad linking the U.S., Mexico, and Canada.

The STB review of CP's proposed control of KCS is expected to be completed in early 2023.