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OTTAWA (dpa-AFX) - Responding to Canadian National Railway Co. s (CNI, CNR.TO) or CN commitment to divest and Kansas City Southern s (KSU) or KCS line between New Orleans and Baton Rouge, Canadian Pacific Railway Limited (CP, CP.TO) said Thursday that CN s commitment does not come close to solving the anti-competitive problems inherent in the proposed CN/KCS transaction.
CP noted that CN s commitment to divest this 70-mile line is clear recognition by CN that it and KCS have always been head-to-head competitors, contrary to CN s repeated claims that the combination was end-to-end.
On Wednesday, Canadian National Railway nd Kansas City Southern said they jointly filed with the Surface Transportation Board or STB a renewed motion for approval of its voting trust that outlines the case for approval of the voting trust to advance the CN-KCS merger that will enhance competition, Canadian National Railway said in a statement.
KANSAS CITY SOUTHERN ALERT: Bragar Eagel & Squire, P C Investigates Sale of KSU and Encourages Investors to Contact the Firm streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
OTTAWA (dpa-AFX) - Canadian National Railway Co. (CNI, CNR.TO) or CN and Kansas City Southern (KSU) or KCS jointly filed with the Surface Transportation Board or 'STB' a renewed motion for approval
KANSAS CITY SOUTHERN ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of KSU and Encourages Investors to Contact the Firm
05/25/2021 | 05:58pm EDT
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NEW YORK, May 25, 2021 (GLOBE NEWSWIRE) Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Kansas City Southern (NYSE: KSU) (“KCS”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Canadian National Railway Company (NYSE: CNI) (“CN”).
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On May 21, 2021, KCS announced that it had signed an agreement to be acquired by CN for approximately $33.6 billion. Pursuant to the merger agreement, KCS stockholders will receive $200 in cash and 1.129 shares of CN common stock for each share of KCS common stock owned. The deal is scheduled to close in the second half of 2
Kansas City Southern Terminates CP Merger Deal, But Reaches Merger Agreement With Canadian National Railway
OTTAWA (dpa-AFX) - Kansas City Southern (KSU) or KCS said it has terminated its merger agreement with Canadian Pacific Railway Limited (CP, CP.TO) and entered into a merger agreement with Canadian National Railway Co. (CNI, CNR.TO).
The move comes after Kansas City Southern determined that the acquisition proposal KCS received from Canadian National Railway Company on May 13, 2021 continues to constitute a Company Superior Proposal under KCS s pending merger agreement with Canadian Pacific Railway Limited or CP .
As per the terms of the CN merger agreement, each share of KCS common stock will be exchanged for $200 in cash and 1.129 shares of CN common stock.