By Adriano Marchese

 

Kansas City Southern said it will put to shareholder vote the proposed combination with Canada-based National Railway Co. on Aug. 19.

The American railroad company said on Thursday it has scheduled a special stockholder meeting for shareholders to vote on the proposed combination with the Canadian freight railway company.

Under the proposed deal first announced in May and unanimously approved by the boards of both companies, Kansas City Southern stockholders will receive $200 in cash and 1.129 shares of CN common stock for each KCS share.

Each KCS stockholders is expected to own about 12.65% of the combined company.

"Together, CN and KCS will be positioned to deliver on the transaction's powerful potential to create new growth opportunities for our customers, employees, labor partners, communities and stockholders," KCS President and Chief Executive Patrick Ottensmeyer said.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

July 08, 2021 09:48 ET (13:48 GMT)

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