Canadian National Railway Company’s Resolution Agreement with TCI

Torys LLP acted as counsel to Canadian National Railway Company on the matter.

Canadian National Railway Company entered into a Resolution Agreement with CIFF Capital and TCI Fund Management (collectively “TCI”).

As part of the agreement, CN and TCI will mutually agree on the appointment of the two future independent directors with railway experience to the Board. TCI agreed to withdraw its requisition for a Special Meeting of Shareholders, previously scheduled to be held on March 22, 2022, and to support the election of all CN Director nominees at the 2022 and 2023 AGMs.

CN also announced the appointment of Tracy Robinson as President and Chief Executive Officer and as a member of its Board of Directors, effective February 28, 2022. The earlier announcement the appointment of The Hon. Jean Charest P.C. as an independent Director and Shauneen Bruder as Vice Chair of the Board.

CN is a world-class transportation leader and trade-enabler.

The Torys’ team included John Emanoilidis (Picture), Mike Amm, Philip Symmonds, Omar Wakil, Daniel Masliyah and Rob Prichard (corporate/board advisory).

Involved fees earner: Michael Amm – Torys LLP; John Emanoilidis – Torys LLP; Daniel Masliyah – Torys LLP; Robert Prichard – Torys LLP; Philip Symmonds – Torys LLP; Omar Wakil – Torys LLP;

Law Firms: Torys LLP;

Clients: Canadian National Railway Company;

Sonia Carcano

Author: Sonia Carcano