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CN: TCI house cleaning under way

(Source: Railway Age, September 13, 2021)

NEW YORK — The fallout from CN’s Surface Transportation Board-forced scuttling of its attempt to merge with Kansas City Southern grew from shrapnel to a ground-zero blast the day after Canadian Pacific and KCS rekindled their relationship and agreed to move forward with their merger. CN’s board and management are now at the mercy of activist hedge fund TCI Fund Management Limited (TCI), which became a “beneficial owner” of CN with a 5.2% stake in the railroad in late August.

Full story: Railway Age

Wednesday, September 15, 2021

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