(Reuters) – The Surface Transportation Board, which oversees U.S. freight railroads, said it plans to announce on Wednesday whether it will approve or reject Canadian Pacific’s $31 billion deal to acquire U.S. railroad Kansas City Southern.
The acquisition, which combines the sixth- and seventh-largest U.S. railroads by revenue, was agreed to in 2021. The deal has since closed but Kansas City shares were transferred to a trust and the railroad must operate independently until the board makes a decision.
The board’s chair will hold a press conference Wednesday to discuss the decision.
(Reporting by David Shepardson; Editing by Chris Reese; Editing by Chris Reese)
