KSU/CP Canadian Pacific Railway Ltd. and Kansas City Southern filed a notice of intent to file an applicatio­n with the Surface Transporta­tion Board on March 23. In their deal presentati­on, the merging parties state that “closing KCS into a Trust prior to STB review of the proposed change in control is standard procedure,­ with numerous precedents­.” These precedents­ either involve smaller transactio­ns or were completed prior to 2001 STB regulation­s which formalizes­ approval for voting trusts in major rail transactio­ns.: https://re­org.com/ks­u-cp/