Late last evening (May 13) BNN Bloomberg reported that the KCS Board of Directors is recommending that the proposed merger agreement with CP be discontinued in favor of the CN proposal.
A CN-KCS merger would be subject to all the issues that were being addressed by CP-KCS with the U.S. Surface Transportation Board (STB) and the STB would have to approve either merger with the impact on competition being a major consideration.
The details can be found in the following BNN Bloomberg article.
