CN, WISCONSIN CENTRAL FILE MERGER APPLICATION WITH STB
Canadian National Railway and Wisconsin Central Transportation Corp. have filed an application with the U.S. Surface Transportation Board to merge the two railroads.
The two railroads also filed a pre-merger notification and competitive impact brief with Canada’s Competition Bureau.
The filings follow a WCTC shareholder approval of the $1.2 billion merger.
The transaction will secure CN ownership and control of a link in its North American Free Trade Agreement network between Superior, Wis. and Chicago.
CN said its application has the support of more than 280 shippers, local governments, chambers of commerce, public agencies, and other railroads.
CN said it has the option to terminate the merger agreement without penalty if the STB does not treat the transaction as a minor consolidation. The STB is expected to decide on the status of the application within 30 days. A moratorium on major merger applications is in force until June 11.