Big Law

Lawmakers Ask Board to Defer Decision on Railroad Merger

U.S. lawmakers on Friday asked the Surface Transportation Board to defer a decision on a proposed Canadian Pacific merger with Kansas City Southern until the board completes a Chicago region impact assessment.

U.S. Senators Dick Durbin and Tammy Duckworth and Representatives Raja Krishnamoorthi and Delia Ramirez said the board’s environmental review was insufficient because it was based on projected freight rail traffic growth provided by Canadian Pacific. Canadian and Kansas City Southern agreed to merge in 2021 in a $31 billion deal.

Canadian Pacific declined to comment. A board spokesman said it “takes all filings seriously, including those submitted by Congress, and will consider them as they deliberate.”

Read the source articel at finance.yahoo.com

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