By Adriano Marchese
Kansas City Southern said Friday that nearly all its voting shareholders have approved the merger with Canadian Pacific Railway Ltd.
The railroad said 99.6% of the 64.5 million votes cast at the company’s special meeting of stockholders were in favor of the agreement.
Under the agreement, KCS stockholders will receive $90 in cash and 2.884 CP shares for each of their KCS shares and $37.50 in cash for each preferred share held.
The transaction is expected to close Tuesday.
Write to Adriano Marchese at adriano.marchese@wsj.com
This article was originally published by Marketwatch.com. Read the original article here.
