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CN Railway Replaces CEO and Names Four New Board Members
Goodmans LLP acted for Elliott Capital Management in connection with the settlement of the proxy contest started by TCI Fund Management to replace directors of Canadian National Railway Company (“CN” or the “Company”).
TCI owns greater than 5% stake in the Company and sought to select a new CEO and four board seats in a proxy fight. Elliott Capital acquired a large position in CN and supported TCI’s efforts. In January 2022, CN settled with TCI by agreeing to add two mutually agreed upon directors as well as a new CEO, thereby averting a proxy fight.