Kansas City Missouri USA - KCS has followed through on plans to delay its vote on CN's merger offer, pending a ruling from the Surface Transportation Board (STB) on the voting trust that is a key portion of the merger plan.
 
KCS stockholders were set to vote on the deal Thursday, but that's now when a new date for the vote is slated to be announced.
 
The railroad said last week it would delay the vote if the STB didn't rule by 17 Aug 2021.
 
The STB has said it expects to rule on the voting trust by 31 Aug 2021.
 
"If we do not have a decision from the STB, we think that is very important information for shareholders," KCS CEO Pat Ottensmeyer said, according to an Associated Press report.
 
"We're not going to ask shareholders to make a commitment without having that information."
 
CN and CP, which continues to pursue its own deal with KCS, despite its rejection by the KCS board, have both said they welcomed delaying the vote.
 
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