Hints and tips:
...Investors have been concerned that any further consolidation would run into problems with the STB....
...“The CN board has consistently misjudged the STB and the predictions of the board have been consistently wrong....
...The STB had previously approved CP’s voting trust. CN is entitled to a $1.4bn termination fee....
...The STB was expected to rule on the merger between KCS and CN this week, but people briefed about the matter said the board might wait until after the shareholder vote....
...Before the STB made its views known, CP sweetened its old offer, increasing it to $300 a share....
...“The STB is sending a clear signal and the CN board has a duty to listen. The risk that the voting trust is not approved is too great to ignore,” Hohn said in the letter....
...The trustee can independently manage Norfolk until STB approval is received, whereupon the two can be fully combined....
...Now parent company STB Holdings is raising money to find sites for 50 new Poundbakery stores across the north of England and the Midlands....
...Although Twin America has been up and running since then, it had been awaiting official approval from the STB....
...STB’s shares barely twitched, while smaller, less profitable CMT – almost certain to be the junior partner in any permutation – slipped 2 per cent....
...Assets held by privately placed funds totalled Y2,200bn at the end of 2004, more than double the amount a year ago, according to a survey by STB Research Institute....
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