RE:RE:RE:RE:Just wonderingLooks like the Caisse agrees.
>>>The head of Quebec’s largest fund manager is backing the board and management of Canadian National Railway Co. in their fight against an unhappy shareholder, saying they were right to attempt a takeover of Kansas City Southern even though the bid failed. Charles Emond, the chief executive officer of the Caisse de Depot et Placement du Quebec, said Canadian National’s top managers “actually did their homework” on the US$30 billion offer and that criticism of the railroad’s strategy by Christopher Hohn’s TCI Fund Management Ltd. isn’t justified. Emond questioned TCI’s motivation in opposing the proposed merger, noting that the London-based investment firm is also a large shareholder in Canadian National’s rival, Canadian Pacific Railway Ltd., which agreed to buy Kansas City Southern for about US$27 billion. “It’s pretty rare you actually see an activist sitting on both sides of the trade with two potential buyers. So one has to understand or question what are the real motivations here,” Emond said.
https://www.bnnbloomberg.ca/caisse-backs-cn-rail-questions-tci-s-motives-in-proxy-fight-1.1655984