ISS Recommends KCS Shareholders Vote FOR Merger Transaction With CN

(RTTNews) - Kansas City Southern (KSU) or KCS said that an independent proxy advisory firm Institutional Shareholder Services Inc. or "ISS" recommended KCS shareholders vote "FOR" the company's transaction with CN (CNI, CNR.TO) at KCS' Special Meeting of Stockholders to be held on August 19, 2021.

On May 21, 2021, KCS and CN entered into a definitive agreement, under which KCS shareholders will receive $200 in cash and 1.129 shares of CN common stock for each KCS common share.

Upon closing of the transaction, KCS shareholders are expected to own approximately 12.65% of the combined company. KCS' preferred shareholders will receive $37.50 in cash for each preferred share. All shareholders of record of KCS common stock and KCS 4% non-cumulative preferred stock as of the close of business on July 1, 2021 are entitled to vote their shares at the Special Meeting.