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    CNR   CA1363751027

CANADIAN NATIONAL RAILWAY COMPANY

(CNR)
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Canadian National Railway : Pacific asks Kansas City shareholders to reject National deal

07/29/2021 | 08:51pm EDT
FILE PHOTO: A logo of KCS Railway Company is pictured in Toluca

(Reuters) - Canadian Pacific Railway Ltd on Thursday asked Kansas City Southern shareholders to vote against a deal with Canadian National Railway Co at a meeting next month.

Kansas City shareholders should reject Canadian National's $33.6 billion bid as there are regulatory risks involved, Canadian Pacific said in a regulatory filing, adding that the proposed acquisition can be decided later.

The terms of Canadian National's deal would bind Kansas City shareholders with the merger agreement until next year, "instead of being free to pursue other opportunities that may be in the best interests of KCS stockholders," Canadian Pacific Railway said.

Canadian Pacific and larger rival Canadian National were in the race to take over the U.S. railroad operator that would create the first direct railway linking Canada, the United States, and Mexico.

In May, Kansas City accepted Canadian National's acquisition offer, upending a prior $29 billion deal with Canadian Pacific.

Kansas City and Canadian National did not immediately respond to Reuters requests for comment outside regular business hours.

In May, the U.S. Department of Justice said Canadian National's bid for Kansas City appears to pose greater risks to competition.

(Reporting by Akriti Sharma in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY 2.12% 150.54 Delayed Quote.4.94%
CANADIAN PACIFIC RAILWAY LIMITED -0.44% 86.2 Delayed Quote.-1.74%
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Analyst Recommendations on CANADIAN NATIONAL RAILWAY COMPANY
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Financials
Sales 2021 14 694 M 11 606 M 11 606 M
Net income 2021 4 253 M 3 359 M 3 359 M
Net Debt 2021 12 184 M 9 623 M 9 623 M
P/E ratio 2021 24,4x
Yield 2021 1,67%
Capitalization 104 B 81 925 M 82 111 M
EV / Sales 2021 7,90x
EV / Sales 2022 7,34x
Nbr of Employees 24 376
Free-Float 99,4%
Chart CANADIAN NATIONAL RAILWAY COMPANY
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Canadian National Railway Company Technical Analysis Chart | CNR | CA1363751027 | MarketScreener
Technical analysis trends CANADIAN NATIONAL RAILWAY COMPANY
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TrendsNeutralBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 146,85 CAD
Average target price 155,58 CAD
Spread / Average Target 5,95%
EPS Revisions
Managers and Directors
Jean-Jacques Ruest President, Chief Executive Officer & Director
Ghislain Houle Chief Financial Officer & Executive Vice President
Robert L. Pace Chairman
Dominique Malenfant Chief Information & Technology Officer, EVP
Nayan Bharadwa Vice President-Automated Rail & Technology
Sector and Competitors