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Additional FOMO would have been if the deal had been approved. Even though CNR would have overpaid, the route would have created an amazing moat.
The US would never allow CNR to have pricing power of a near monopoly on the Mexico route. They would intervene in some form and regulate it, albeit that it itself would be good for a source of robust income (like a pipeline).
 

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I imagine both stocks will be fine long term and do provide some US exposure. Why pick just one? Own them both. A bit like choosing which bank to own. (I presently own just CN, but may add CP)

I see some CN shareholders are unhappy! This might be a good move, although short term it has affected the stock, it seems.

12:26 PM EDT, 09/13/2021 (MT Newswires) -- Long-term shareholders CIFF Capital UK LP and The Children's Investment Master Fund, acting by their investment manager TCI Fund Management Limited, announced Monday they intend to requisition a timely special meeting of Canadian National Railway Company (CNR.TOI) shareholders shortly for the purpose of refreshing the current Board of Directors by adding four nominees who, it said, will provide the "deep" railroad operational experience the current Board lacks. TCI's four nominees are Gilbert Lamphere, Allison Landry, Rob Knight, and Paul Miller.

Also, TCI has identified Jim Vena as the outstanding candidate for the role of new CEO.

This comes after Kansas City Southern (KSU) over the weekend said it's backing out of a merger agreement with CN Rail and plans to accept a competing offer from Canadian Pacific Railway Ltd. (CP.TO, CP).

Near midday, CN acknowledged the announcement requisitioning a meeting of its shareholders. The company said it has not yet received the formal requisition from TCI. Once it is in receipt of it, CN will review it and comment further in due course.
 

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Excerpt from Financial Post (today)

"Were Canadian National to lose out to Canadian Pacific, it would receive from Kansas City Southern a US$700 million break-up fee and would be reimbursed for another US$700 million it paid Kansas City Southern to pass on to Canadian Pacific as a break-up fee for terminating their March deal. Canadian Pacific has said it will cover the cost of this US$1.4 billion that Kansas City Southern would owe Canadian National"
 

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All of this noise hasn't resulted in an increase to CNR's EPS which will continue to hover around $6 EPS. At $158 last week, it is 26 times earnings and there is not a significant difference between trailing and forward. It is nice they appear to be getting some of their money back though.
 

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All this volatility from a railroad??

CNR is supposed to be one of my "stable" holdings, that smooths out the portfolio. Sheesh...
 

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I'm surprised the stock keeps going down on news of the proxy fight with TCI.
I would have thought this would be a huge boon for CNR considering what we saw with CP and Bill Ackman.
Could this be a massive buying opportunity for CNR?
Maybe more experienced investors can shed more light on this.
 
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