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AP National Business

Canadian National railroad facing more investor pressure

KTVZ
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Published 7:04 am

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — A day after being spurned by Kansas City Southern, Canadian National Railway is facing additional pressure from a major investor who wants CN to abandon its effort to buy the U.S. railroad. The London-based investment firm TCI Fund said Monday it’s calling for a special CN shareholder meeting where it plans to nominate four new directors. TCI has said it thinks CN should get a new CEO and focus its efforts on improving its own operations. Canadian National officials didn’t immediately respond Monday, but the railroad said Sunday that it would evaluate all of its strategic options after Kansas City Southern picked Canadian Pacific’s $31 billion offer over CN’s higher bid.

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