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After a Derailed Merger, Canadian National Gets Back on Track

Lou Whiteman, The Motley Fool
·5-min read
After a Derailed Merger, Canadian National Gets Back on Track

Canadian National Railway (NYSE: CNI) delivered a clear message that the company is moving on following its failed attempt to acquire Kansas City Southern (NYSE: KSU), reporting strong third-quarter results and announcing a management transition that should help appease a disgruntled shareholder. The railroad has taken investors on a wild ride this year, in April launching an unsolicited $33 billion effort to break up Kansas City Southern's planned acquisition by Canadian Pacific (NYSE: CP). Canadian National temporarily secured Kansas City Southern's backing, but the target eventually returned to Canadian Pacific after U.S. regulators expressed concerns about the competitive impact of a Canadian National/Kansas City Southern deal.

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