Kansas City Southern Shareholders to Vote on Combination with CN on Aug. 19
July 08 2021 - 9:01AM
Dow Jones News
By Adriano Marchese
Kansas City Southern said it will put to shareholder vote the
proposed combination with Canada-based National Railway Co. on Aug.
19.
The American railroad company said on Thursday it has scheduled
a special stockholder meeting for shareholders to vote on the
proposed combination with the Canadian freight railway company.
Under the proposed deal first announced in May and unanimously
approved by the boards of both companies, Kansas City Southern
stockholders will receive $200 in cash and 1.129 shares of CN
common stock for each KCS share.
Each KCS stockholders is expected to own about 12.65% of the
combined company.
"Together, CN and KCS will be positioned to deliver on the
transaction's powerful potential to create new growth opportunities
for our customers, employees, labor partners, communities and
stockholders," KCS President and Chief Executive Patrick
Ottensmeyer said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 08, 2021 09:48 ET (13:48 GMT)
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