Mergers & Acquisitions ·
Canadian National Railway (CN) and Union Pacific (UNP) signed a binding Memorandum of Understanding to establish a…
CNICanadian National Railway Co
Canadian National Railway (CN) and Union Pacific (UNP) signed a binding Memorandum of Understanding to establish a framework for CN to secure competitive access following the proposed merger between Union Pacific and Norfolk Southern. Under the agreement, contingent on Surface Transportation Board approval, CN will acquire Norfolk Southern's ownership interests in the Kansas City Terminal Railway Company and the Terminal Railroad Association of St. Louis. CN also gains new Midwest access via overhead rights between Tuscola, Illinois, and East St. Louis, Illinois, and rights to serve customers between St. Louis, Missouri, and Kansas City, Missouri. Additionally, CN will gain access to shipper facilities where Class I railroad options would be reduced and will utilize Union Pacific's Neff Yard. CN will not oppose the Union Pacific-Norfolk Southern merger. CN is a transportation company operating a North American rail network.