Post by
Justhalffull on May 14, 2021 10:41am
cn wins KCS
KCS announced they would accept the CN bid.
https://ca.finance.yahoo.com/news/cn-railway-tsx-cnr-wins-125854433.html
Comment by
RusticHit on May 14, 2021 10:48am
and shareholders lost another 5% why this going down again 160 to 130 longs r toasted ....
Comment by
Justhalffull on May 14, 2021 11:24am
Going down because now CN will have to issue 90 million new shares for the KCS shareholders and come up with $18 billion in cash to pay them their $200 per share cash. But it's all temporary. The deal is expected to be accretive in the first year following gain of control by CN, and expected to have $1 billion in EBITDA.
Comment by
Oldweed on May 14, 2021 2:59pm
Maybe not, with Enbridge pipelines being unpopular with the Biden administration there is a significant opportunity for CN to move more oil and I'm thinking this merger will be rammed through from the top to ensure no bad press comes from oill shortages created by the current politics.