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CN Files Request to STB to Establish Procedural Schedule

CN Files Request to STB to Establish Procedural Schedule for Review of Voting Trust for Combination With Kansas City Southern Filing includes merger agreement reflecting CN proposal that was recently deemed superior by the KCS Board of Directors May 18, 2021 13:45 ET | Source: Canadian National Railway Canadian National Railway Montreal, Quebec, CANADA MONTREAL, May 18, 2021 (GLOBE NEWSWIRE) CN (TSX: CNR, NYSE: CNI) today filed with the Surface Transportation Board ( STB ) a request to establish a procedural schedule for review of the voting trust that CN intends to use for its planned merger with Kansas City Southern (NYSE: KSU) (“KCS”). CN’s filing today also includes the merger agreement with KCS that was finalized on May 13, 2021, when KCS deemed CN’s proposal superior and announced its intention to terminate the previously executed March 21, 2021 merger agreement with Canadian Pacific Railway Ltd. (“CP”).

CP Rail s largest shareholder urges CN Rail to abandon bid for Kansas City Southern - Medicine Hat NewsMedicine Hat News

Canadian Pacific Rail locomotives sit idle at the company s Port Coquitlam yard east of Vancouver, B.C., on May 23, 2012. THE CANADIAN PRESS/Darryl Dyck Canadian Pacific Railway Ltd.’s largest shareholder has called on CN Rail to drop its bid for Kansas City Southern because of the sizable break fee CN Rail would be forced to pay if its voting trust is not approved by the U.S. railway regulator. Britain’s TCI Fund Management – which also owns a three per cent stake in CN Rail – made the appeal in a letter to CN’s board after the U.S. Surface Transportation Board ruled Monday that its proposed US$33.6-billion deal with KCS must be based on stricter merger rules.

Major CN shareholder calls for end of pursuit of Kansas City Southern

Major CN shareholder calls for end of pursuit of Kansas City Southern
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