Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Canadian National Railway Company
  6. News
  7. Summary
    CNR   CA1363751027

CANADIAN NATIONAL RAILWAY COMPANY

(CNR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Canadian Pacific, Canadian National Clash Over Kansas City Southern

04/26/2021 | 01:08pm EDT

By Micah Maidenberg

Canadian Pacific Railway Ltd. cast doubt on Canadian National Railway Co.'s bid for Kansas City Southern in a letter, the latest salvo in an ongoing effort by both Canadian railroads to buy the latter company.

Canadian Pacific Chief Executive Keith Creel said in a letter to Kansas City Southern Chief Executive Pat Ottensmeyer dated April 23 and released today that there are competitive routes that would be extinguished if Canadian National and Kansas City Southern combined.

"I am sure I do not need to belabor the extent of the competitive overlaps" between the two companies, Mr. Creel said in the letter. Those flows, he said, from "broadly parallel" routes the two railways have between Springfield, Ill., and New Orleans

On Friday, Canadian National described its bid for Kansas City Southern as "procompetitive" and laid out its case for that position in a letter to the U.S. Surface Transportation Board, a federal regulator.

"As the board is well aware, the fiercest and most aggressive 'competitor' to the freight rail industry is the trucking industry, which has a dominant market share for the transportation of most commodities - including intermodal traffic," Canadian National said in the letter.

Both Canadian Pacific and Canadian National have mounted public-communications efforts where each is detailing their respective cases for purchasing Kansas City Southern.

Canadian National Railway said earlier this month it bid $33.7 billion in cash and stock to acquire Kansas City Southern, an offer it said values Kansas City Southern stock at $325 per share.

Last month, Canadian Pacific agreed to pay $275 a share, including $90 in cash, for Kansas City Southern, a bid valued at $25 billion.

On Saturday, Kansas City Southern's board said Canadian National's offer could reasonably be expected to lead to what is considered a superior offer as defined in its merger agreement with Canadian Pacific.

The company said it would start sharing nonpublic information and engage in discussions with Canadian National. Kansas City Southern remains bound by the terms of its deal with Canadian Pacific and its board hasn't determined that Canadian National's proposal does constitute a superior one.

In midday trading on Monday, Kansas City Southern shares dipped 0.08% to $301.54. Canadian National Railway stock increased 0.30% to $109.19. Canadian Pacific shares rose 0.14% to $371.23.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

04-26-21 1307ET

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN NATIONAL RAILWAY COMPANY -0.08% 129.8 Delayed Quote.-7.17%
CANADIAN PACIFIC RAILWAY LIMITED 0.39% 94.79 Delayed Quote.6.92%
DJ INDUSTRIAL 1.76% 33876.97 Delayed Quote.8.77%
FREIGHTCAR AMERICA, INC. 5.04% 5.63 Delayed Quote.133.61%
KANSAS CITY SOUTHERN 0.71% 283.63 Delayed Quote.38.95%
All news about CANADIAN NATIONAL RAILWAY COMPANY
06/21CANADIAN NATIONAL RAILWAY  : CN Celebrates Indigenous History Month and National..
PU
06/21CN Rail To Invest $445 Million in Alberta, $15 Million in New Brunswick
MT
06/21CP RAIL BRIEF : Says More than 1,050 Letters Filed Supporting CP-KCS Combination..
MT
06/21CP RAIL BRIEF : Says 80-plus more Stakeholders Urge STB to Reject CN's Use of a ..
MT
06/21CN RAIL BRIEF : Says To Invest $445 Million in Alberta, and $15 Million in New B..
MT
06/17CANADIAN NATIONAL RAILWAY  : The Company is increasingly optimistic about the ec..
PU
06/17CN Rail Says Support for KCS Combination Grows to Over 1500 Letters Filed Wit..
MT
06/17CN RAIL BRIEF : Also To Invest $350 Million in Ontario
MT
06/17CN RAIL BRIEF : Says Support for KCS Combination Grows to More than 1500 Letters..
MT
06/17CN RAIL BRIEF : Adds To Invest $95 Million in Manitoba On Safety of its Network ..
MT
More news
Financials
Sales 2021 14 905 M 12 036 M 12 036 M
Net income 2021 4 248 M 3 431 M 3 431 M
Net Debt 2021 11 661 M 9 417 M 9 417 M
P/E ratio 2021 21,8x
Yield 2021 1,90%
Capitalization 91 893 M 74 257 M 74 204 M
EV / Sales 2021 6,95x
EV / Sales 2022 6,40x
Nbr of Employees 24 577
Free-Float 99,6%
Chart CANADIAN NATIONAL RAILWAY COMPANY
Duration : Period :
Canadian National Railway Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CANADIAN NATIONAL RAILWAY COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 150,38 CAD
Last Close Price 129,80 CAD
Spread / Highest target 31,7%
Spread / Average Target 15,9%
Spread / Lowest Target -16,0%
EPS Revisions
Managers and Directors
NameTitle
Jean-Jacques Ruest President, Chief Executive Officer & Director
Ghislain Houle Chief Financial Officer & Executive Vice President
Robert L. Pace Chairman
Dominique Malenfant Chief Information & Technology Officer, EVP
Nayan Bharadwa Vice President-Automated Rail & Technology
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN NATIONAL RAILWAY COMPANY-7.17%73 725
UNION PACIFIC CORPORATION4.46%142 699
NORFOLK SOUTHERN CORPORATION11.43%65 421
CANADIAN PACIFIC RAILWAY LIMITED6.92%50 453
KANSAS CITY SOUTHERN38.95%25 611
XPO LOGISTICS, INC.22.22%15 583