Briefing

    CN activist investor proposes new CEO, directors after failed takeover attempt

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    TCI Fund Management, the rail company’s largest shareholder, proposed replacing Jean-Jacques Ruest with former CN executive Jim Vena, a day after Kansas City Southern Railway terminated CN’s takeover agreement in favour of a bid from Canadian Pacific Railway (TCI is also CP’s largest shareholder). The investor also put forward four rail and logistics veterans to replace current board members. (The Logic)

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