Page 5 - Voting Trust News Today

/PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) sent the following letter to the Surface Transportation Board ("STB") today in response to...

Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railroad operator changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn's TCI Fund Management, which has a 2.93% stake in Canadian National (CN), said the company should not go ahead with its plan to create a voting trust structure for the takeover.

Canadian National Ry. – Control – Kansas City Southern Dear Ms. Brown: I am writing on behalf of the Canadian Pacific 1 in response to the "Motion to Adopt Procedural Schedule for Renewed Motion for Approval of Voting Trust Agreement" (CN-15) filed by Canadian National ("CN") this morning.  CNs proposed "three business day" period for public comment on a "Renewed Motion" it has not yet prepared or filed is not constructive, 2 and is based on the false premise that members of the public we...

STB Approves CPKC Voting Trust STB Approves CPKC Voting Trust Written by William C. Vantuono, Editor-in-Chief The Surface Transportation Board on May 6 approved, by unanimous vote, a voting trust for Canadian Pacific’s proposed merger with Kansas City Southern. “The Board finds that formal Board review of the voting trust agreement proposed for use in connection with this transaction is warranted and determines that the proposed arrangement ...

CP and KCS had announced plans to merge in March, while CP rival CN (NYSE: CNI) said in April that it is also interested in acquiring KCS. Both CP and CN are Canadian railways, and they propose that a merger with KCS would create a railroad that has operations across Canada, the U.S. Midwest and into Mexico. STBs Thursday decision grants CP and KCS permission to use a voting trust as a way to prevent any premature takeover of KCS and to enable KCS to continue to operate as an independent compa...

Regulators approve CP’s and KCS’ request to form pre-merger voting trust CP and rival bidder CN satisfied with STB’s decision 1 206 3 minutes read The Surface Transportation Board ruled Thursday on Canadian Pacific and Kansas City Southerns request for a merger-related voting trust. (Photo: Jim Allen/FreightWaves) The Surface Transportation Board (STB) has determined that Canadian Pacific (NYSE: CP) and Kansas City Southern (NYSE: KSU) can proceed with establishing a voting trus...

More from AP

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Aduro Clean Technologies Inc. Announces Closing of Transaction with Aduro Energy and Fundamental Change under the Policies of the CSE VANCOUVER, BC / ACCESSWIRE / April 28, 2021 / Aduro Clean Technologies Inc. (CSE: ACT) (the " Company" or " Aduro Clean Technologies"), formerly Dimension Five Technologies Inc. (CSE: DFT), is pleased to announce that, further to its news releases dated July 14, 2020, October 23, 2020 and April 6, 2021, the Company has completed its acquisition (the " Transactio...

As soon as the STB issued its decision granting Kansas City Southern a waiver from prevailing merger rules established about 20 years ago, KCS—following the terms of its existing merger agreement with Canadian Pacific—said it would now consider CN’s counter-offer. KCS reported April 24 that its Board of Directors has determined that the unsolicited merger proposal it received from CN on April 20 might end up “superior” to the KCS-Canadian Pacific (CP) merger agreement announced March...