Quote:
Originally Posted by Slava
Well, the STB has denied the voting trust for CNR and effectively killed that potential deal. CP looks to be back on at this point!
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This is turning into quite the saga. CN investors now calling for blood as the way the CN/KCS agreement was structured now calls for a penalty payment of $1B due to the voting trust being denied in addition to the $700M they already had to pay to cover the break fee for KCS to walk away from their original deal with CP. This is likely to cost CN's CEO his job.
https://www.reuters.com/business/aut...rn-2021-08-31/
KCS has a shareholder vote scheduled for Sept. 3 to decide next steps but I fully expect CP to be back in the game.