September 12, 2021

Friday’s session saw the S&P 500 down 0.8% and Toronto down 0.35%.

Apple was notable with a 3.3% decline.

Today (Sunday) Kansas City Southern announced that it now accepts and prefers Canadian Pacific’s bid rather than CN’s. Since CN shareholders did not seem to favor the deal it’s quite possible CN’s price will rise on this news. Perhaps if CP’s price dips that will be a buying opportunity. I now see that CP will apparently reimburse CN for some $1.4 billion in break fees if the CP deal goes ahead. Perhaps this is not a bad outcome for CN. 


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