Kansas City Southern shareholders OK takeover by Canadian Pacific Railway


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.

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