KSU - Canadian National holder TCI says railroad operator should drop Kansas City Southern bid

Canadian National (CNI) holder TCI Fund management said the railroad operator should drop its offer for Kansas City Southern (KSU).TCI, run by UK hedge fund manager Chris Hohn, urges Canadian National to give up its bid for KSU unless deal terms are amended so that voting trust approval is not a condition, media outlets including Bloomberg and FT reported, citing a letter from TCI.TCI holds about 20m shares of Canadian National and is the 6th biggest holder. TCI is also the top holder of Canadian Pacific (CP), according to Bloomberg.Earlier, Kansas City Southern expected to stick with Canadian National Railway bid.

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Canadian National holder TCI says railroad operator should drop Kansas City Southern bid