Union Pacific signed a binding settlement framework with CN tied to Union Pacific’s proposed merger with Norfolk Southern.
CN would gain competitive access to shipper facilities where Class I rail options drop from 2 to 1 or 3 to 2.
CN would buy Norfolk Southern’s stakes in Kansas City Terminal Railway and the Terminal Railroad Association of St. Louis.
Operational rights would expand CN’s Midwest footprint, including access between Tuscola and East St. Louis, and service rights between St. Louis and Kansas City.
CN agreed not to oppose the Union Pacific–Norfolk Southern deal, with implementation tied to completion of that merger.
UNP•
