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CN to purchase its common shares under a specific share repurchase program

2015-12-19 15:55:34| Railroads - Topix.net

The purchase will form part of the Normal Course Issuer Bid for up to 33 million shares announced on CN will enter into an agreement with a third party to repurchase common shares through daily purchases that will take place from , subject to a maximum of 4,356,000 common shares. Pursuant to the terms of the Agreement, and subject to the terms of an issuer bid exemption order issued by the Ontario Securities Commission , the third party will purchase CN's common shares on the open market for its own account in accordance with the rules applicable to the Bid, for the purpose of ultimately fulfilling its delivery obligations to CN under the Agreement.

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