By Adriano Marchese

Kansas City Southern said Friday that nearly all its voting shareholders have approved the merger with Canadian Pacific Railway Ltd.

The railroad said 99.6% of the 64.5 million votes cast at the company's special meeting of stockholders were in favor of the agreement.

Under the agreement, KCS stockholders will receive $90 in cash and 2.884 CP shares for each of their KCS shares and $37.50 in cash for each preferred share held.

The transaction is expected to close Tuesday.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 10, 2021 11:07 ET (16:07 GMT)

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