Canadian National Railway Company (CNR.TO) filed a description with the Surface Transportation Board (STB), of the anticipated conditions it plans to seek in connection with the proposed Union Pacific (UP) and Norfolk Southern (NS) transaction, to preserve rail competition and expand customer options in the Midwest, it said in a statement late Thursday.
"The conditions we are proposing would preserve competitive access in key Midwest markets, expand CN's reach and create additional opportunities to grow with our customers," said CN senior vice-president and chief legal officer Olivier Chouc.
The proposed conditions include preserving competitive options for 2-to 1 shippers in central and Southern Illinois and for 3-to-2 shippers in Des Moines and Avon, Iowa. It also includes new access to Kansas City and improved access to East St. Louis, Illinois and St. Louis, Missouri.
Anticipated conditions remain subject to STB approval and the closing of the proposed UP-NS deal. Formal requests for conditions are due on November 18, it said.
US-listed shares of the company were last seen up 0.1% at $121.3 in pre-market trading.