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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (113289)	9/23/2021 9:37:35 AM
From: Goose94	Read Replies (1) of 195423

Canadian National Railway (CNR-T) sitting on the Hot Box Detector Quebec's largest fund manager is backing the board and management of Canadian National Railway in their fight against Christopher Hohn's TCI Fund Management, saying they were right to attempt a takeover of Kansas City Southern even though the bid failed. Charles Emond, the chief executive of the Caisse de Depot et Placement du Quebec, said CN's top managers "actually did their homework" on the $30-billion (U.S.) offer and that criticism of the railroad's strategy by TCI is not justified. Mr. Emond says: "We thought it was a good deal. These kind of opportunities happen very rarely. The outcome was different than expected, but they were rigorous in the process." The pact failed when the U.S. Surface Transportation Board blocked CN's proposal to use a voting trust to ensure that KCS shareholders got paid before regulatory approvals were completed. Mr. Emond questions TCI'S motivation in opposing the proposed merger. He notes that TCI is also a large shareholder in rival Canadian Pacific Railway, which agreed to buy KCS for about $27-billion (U.S.).

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