Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Kansas City Southern says its shareholders will vote on the US$33.6-billion takeover offer from Canadian National Railway Co. next month.
The U.S. railway says a virtual meeting will be held Aug. 19 with all common and non-cumulative preferred stockholders as of July 1 eligible to vote.
If approved by a majority of KCS outstanding voting shares and a key voting trust is sanctioned by the U.S. Surface Transportation Board, each common shareholder will receive US$200 in cash and 1.129 shares of CN stock, together valued at US$325, for each KCS stock.
Preferred stockholders will receive US$37.50 cash for each share.
The deal also includes about US$3.8 billion in KCS debt and CN will pay a US$700-million break fee owed to Canadian Pacific Railway Ltd. which had negotiated an earlier deal to buy KCS.
CN has also agreed to pay KCS US$1 billion if the voting trust is not approved.
"We are thrilled to be taking this important next step and giving KCS stockholders the opportunity to vote on the creation of the premier railway for the 21st Century," CN chief executive JJ Ruest said.
The voting trust will allow KCS to remain independent and protect its financial health while a full review of the transaction is conducted, but allow shareholders to be paid without having to wait for a final decision on the deal.
This report by The Canadian Press was first published July 8, 2021.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
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Three men in Quebec from the same family have fathered more than 600 children.
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A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.