CSX - Proxy adviser ISS recommends Kansas City Southern holders vote for Canadian National takeover

Kansas City Southern (NYSE:KSU) shareholders should vote in favor of Canadian National Railway's (NYSE:CNI) planned takeover, proxy adviser ISS recommends. “While CP is soliciting votes against the transaction, it has not provided KSU shareholders with any actionable alternative, let alone one that bridges the divide between its initial offer and CNI's offer," ISS said in recommendation, according to a press release from Kansas City Southern (KSU) from yesterday. ISS also recommended that KSU holders vote for the CNI deal because shareholders "would lock in the break fee. " The ISS recommendation comes as Kansas City Southern (KSU) holders are schedule to vote on Aug 19 on the takeover offer, though rival bidder Canadian Pacific (NYSE:CP) has been urging KSU holders to vote down the takeover bid. The vote also comes as Canadian National awaits a decision from the U.S. railroad regulator, the Surface Transportation Board, if the agency will approve a

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Proxy adviser ISS recommends Kansas City Southern holders vote for Canadian National takeover