Expected corporate event of Kansas City Southern ORD SHS (KSU-RM)
Moscow Exchange announces an expected corporate event entailing conversion upon merger of Kansas City Southern (ISIN US4851703029, ticker - KSU-RM) into Canadian Pacific Railway Ltd. ("CP"). If the corporate event occurs, Kansas City Southern ("KCS") will subsequently cease operations.
Shareholders of the US rail operator KCS will receive 2,884 ordinary shares in the Canadian company and $90 in cash for each share held.
The corporate event will take place subject to a number of regulatory requirements, including shareholder approval from both companies.
CP shareholders voted in favour of the proposed transaction and the name change on 8 December 2021. A meeting of KCS shareholders is scheduled for 10 December 2021.
If the transaction is approved by KCS shareholders, the merger is expected to be completed in two working days, on 14 December 2021, according to a press release dated 26 November 2021 published on the website of Canadian Pacific Railway Ltd.
Please note that the securities of Canadian Pacific Railway Ltd. will be credited to investors' accounts in accordance with the terms and conditions of processing the corporate event by the depositories which keeps records for Canadian Pacific Railway Ltd.
Please also note that after the merger, the name of the new company will be changed from Canadian Pacific Railway Ltd. to Canadian Pacific Kansas City Ltd.
Information on the corporate event can be found on the SEC website.