The Canadian Pacific railyard is pictured in Port Coquitlam, British Columbia February 15, 2015. REUTERS/Ben Nelms
Canadian Pacific Railway Ltd (CP.TO) welcomed the U.S. Surface Transportation Board’s (STB) decision to approve its merger with Kansas City Southern (KSU.N) on Saturday.
The two companies will proceed with an application under the standards in the STB’s pre-2001 major merger rules, according to a statement by Canadian Pacific.
The STB had approved the merger of the two companies on Friday.
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source: reuters.com