Image copyright EPA Image caption CP Rail wants to purchase Kansas City Southern in a deal worth more than $13bn
Shareholders of Canadian Pacific Railway have approved the company’s takeover of its rival Kansas City Southern.
The two railway companies hope to create a US railroad that can compete with the North American freight rails.
Canadian Pacific announced its intentions in May.
On Sunday, it said 89% of Kansas City Southern shareholders had agreed to the $13.8bn (£10.1bn) deal.
In a statement, Canadian Pacific – which owns one of Canada’s busiest rail networks – said its shareholders had overwhelmingly agreed to the acquisition.
“We are pleased to have moved past the shareholder vote and are now ready to move to closed discussions with management of Kansas City Southern,” said Chief Executive Hunter Harrison, who will help lead the new company if the deal is completed.
The acquisition will complete upon approval by the US Federal Railroad Authority and the Federal Trade Commission.
If it goes through, Kansas City Southern’s headquarters will remain in Kansas City, Missouri.
CP’s headquarters will remain in Calgary, Alberta.