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More Unions Across North America Call on STB to Reject CN Voting Trust
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SMART-TD Chair Representing Kansas City Southern Employees Highlights Negative Impacts Associated with a CN Combination
CALGARY, AB, June 28, 2021 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) ( CP ) announced today that unions representing railroad employees across the U.S., including SMART-Transportation Division ( SMART-TD ) General Committee GCA-457 representing Kansas City Southern ( KCS ) employees, have written letters urging the Surface Transportation Board ( STB ) to reject Canadian National s ( CN ) proposed use of a voting trust.
Many of the unions express concerns about job loss, increased CN debt load and regulatory challenges a CN/KCS transaction would face. Excerpts from the letters include: