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6/4/2021
CN and Kansas City Southern chief executives, speaking yesterday at Bernstein’s 37th Annual Strategic Decisions Conference, presented the case for merging their companies.
CN President and CEO JJ Ruest and KCS President and CEO Patrick Ottensmeyer described how the combination of the two Class Is would create a fully end-to-end merger that would deliver "significant public interest benefits for customers, ports, employees, communities and the environment," according to a press release.
Ruest and Ottensmeyer stated their case for voting trust approval as the Surface Transportation Board (STB) reviews CN and KCS’ joint request under the current merger rules.
The motion for approval of the voting trust makes clear that CN has shown there will be no unlawful, premature control of KCS; that KCS and CN are financially sound throughout and after the trust period; and that a voting trust is in the public interest, the leaders said, according to a press release issued by both companies.
The proposed combination has received support from across the CN and KCS stakeholder network, with more than 1,400 letters filed with the STB to date, the companies have said.
A replay of the conference webcast is available via the investors section of the CN and KCS websites.