Hohn’s TCI Vows to Continue CN Rail Fight as Bidding War Ends

TCI Fund Management Ltd. will continue its campaign to replace the chief executive officer and several directors of Canadian National Railway Co. despite the railway’s decision to drop its $30 billion bid for Kansas City Southern.

“While CN ultimately made the right decision to not continue its ill-fated pursuit of Kansas City Southern, the fact the company made such an ill-advised bid in the first place exposed a basic misunderstanding of the railroad industry,” London-based TCI, managed by Chris Hohn, said in an email.

Kansas City Southern said Wednesday it had terminated a deal with Montreal-based Canadian National ...