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Canadian Pacific and Kansas City Southern submit a joint application before the Surface Transportation Board asking to consolidate the two railroads while CN adds a rail and technology expert to its board.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
CN CEO Jean-Jacques Ruest plans to retire after a failed takeover bid of Kansas City Southern and a proxy battle by activist shareholders to oust the rail company's leadership.
Canadian National Railway Co.'s embattled CEO is retiring in the new year, the railway says as it reported a big jump in third-quarter profits thanks in part to a $770-million after-tax break fee it received after walking away from a takeover bid for Kansas City Southern railway.
Canadian National Railway Co.'s embattled CEO is retiring in the new year, the railway says as it reported earning $1.685 billion in the third quarter, thanks in part to a US$770-million after-tax break fee it received after walking away from a takeover bid for Kansas City Southern railway.