An agreement with bondholders required Canadian Pacific Kansas City to redeem bonds — issued to support the merger that created the railroad — if the deal did not become "effective" by a certain date. Federal litigation will determine which of two dates contemplated by regulators constitutes an "effective" date for the combination.

An agreement with bondholders required Canadian Pacific Kansas City to redeem bonds — issued to support the merger that created the railroad — if the deal did not become "effective" by a certain date. Federal litigation will determine which of two dates contemplated by regulators constitutes an "effective" date for the combination.