Tennessee Sen. Marsha Blackburn discusses Democrats' attempt to politicize the Supreme Court and other progressive policies
Tennessee Sen. Marsha Blackburn discusses Democrats' attempt to politicize the Supreme Court and other progressive policies
Lindsay Schanzer went to bed Saturday night confident about her plans to produce NBC's Preakness broadcast. Then word emerged that Kentucky Derby winner Medina Spirit failed a postrace drug test. “I probably went to sleep with a smile on my face and then woke up to a couple texts and then that smiled turned into something else,” Schanzer said.
CN’s enhanced proposal of $3251 per share values KCS at an enterprise value of $33.6 billion With Confirmatory Due Diligence Complete, CN Looks Forward to Promptly Entering into Merger Agreement with KCS MONTREAL, May 13, 2021 (GLOBE NEWSWIRE) -- CN (TSX: CNR, NYSE: CNI) today announced that following the completion of confirmatory due diligence, it submitted an enhanced binding superior proposal and merger agreement to the Kansas City Southern (NYSE: KSU) (“KCS”) Board of Directors. The KCS Board has determined CN’s proposal to be a “Company Superior Proposal” and has announced its intention to terminate the previously executed March 21, 2021 merger agreement with Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) (“CP”). CN looks forward to promptly entering into a definitive merger agreement with KCS to create the premier railway for the 21st century. CN’s proposal offers KCS shareholders $325 per common share based on yesterday’s closing price of CN shares, which implies a total enterprise value of $33.6 billion, including the assumption of approximately $3.8 billion of KCS debt. Under the terms of CN’s revised proposal, KCS shareholders will receive $200 in cash and 1.129 shares of CN common stock for each KCS common share, with KCS shareholders expected to own 12.6% of the combined company. This represents an implied premium of 45% when compared to KCS’ unaffected closing stock price on March 19, 2021. KCS’ preferred shareholders will continue to receive $37.50 in cash for each preferred share. Under the terms of the revised proposal, a wholly owned subsidiary of CN has also agreed to reimburse $700 million to KCS in connection with their payment of the termination fee to CP under the merger agreement with CP. “We are delighted that KCS has deemed CN’s binding proposal superior, recognizing the many compelling benefits of our combination and expressing confidence in CN’s ability to obtain the necessary approvals and successfully close the transaction. Our proposal offers a clear path to completion and is structured in a way that gives KCS shareholders both greater immediate value and the opportunity to participate in the future upside of the combined company. Together, CN and KCS will seamlessly connect ports and rails in the United States, Mexico and Canada by providing superior service, enhanced competition and new market access to move goods across North America safely and efficiently. We are encouraged by the widespread support we have received for the transaction thus far and will continue to work closely with KCS and all relevant stakeholders to fully realize the benefits and opportunities available through a combined CN-KCS.” - JJ Ruest, president and chief executive officer of CN “We are the better bid, better partner, better railway and best solution for KCS, and are pleased that the KCS Board of Directors has recognized the superiority of our proposal. We look forward to continuing to engage constructively with KCS’ Board to execute a definitive merger agreement in the near term and deliver the benefits of this transaction to both companies’ stakeholders.” - Robert Pace, Chair of the Board of CN The combination of CN and KCS will: Create the premier railway for the 21st century: The combination of CN and KCS will further accelerate CN’s industry-leading growth profile by connecting North America’s industrial corridor to create new options for shippers and new revenue for the combined company. A CN-KCS combination is the right solution to bring the USMCA to life in a meaningful way. Have strong stakeholder support. CN has received more than 1,000 letters of support from customers, partners and elected officials since it first made its proposal; this is nearly double the number of support letters filed by CP, in less than half the time. Be pro-competitive: CN and KCS will create a safer, faster, cleaner and stronger railway that is ideally positioned to support the growth of an emerging consumption-based economy through better service options and customer choice. Specifically, this combination will create an express route that connects the U.S., Mexico and Canada with a seamless single-owner, single-operator service, and preserve access to all existing gateways to enhance route choices and ensure robust price competition.Accelerate innovation and environmental efficiency: CN and KCS share cultures that are committed to safety, service and environmental stewardship. CN and KCS will accelerate innovation and investment as CN brings its industry-leading safety technology and fuel efficiency to the KCS network. The combined company will yield demonstrable benefits for the environment across the states and regions traversed by KCS’ tracks by converting significant volumes of truck traffic onto rails, which deliver better fuel efficiency at lower cost. Expected conversion of truck traffic to rails will also reduce traffic congestion in these regions and prevent thousands of tons of emissions from entering the atmosphere every day. Have a clear path to close: CN is confident in its ability to obtain approval from the Surface Transportation Board (“STB”) and other regulatory bodies on a timeline consistent with the proposed CP transaction. CN has proposed to use a voting trust and trustee that are identical to those the STB approved for CP’s proposed acquisition. KCS shareholders will receive the merger consideration immediately upon the closing of CN’s voting trust, which is expected to be in the second half of 2021. Moreover, CN’s proposed transaction will not require the approval of CN’s shareholders, eliminating a closing condition present in the proposed CP transaction and thereby providing greater certainty of closing. The completion of the transaction would be expected to take place in the second half of 2022. For more information about CN’s superior proposal to combine with KCS, please visit www.ConnectedContinent.com. About CNCN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship. Forward Looking StatementsCertain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws, including statements based on management’s assessment and assumptions and publicly available information with respect to KCS, regarding the proposed transaction between CN and KCS, the expected benefits of the proposed transaction and future opportunities for the combined company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CN, or the combined company, to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to: the outcome of any possible transaction between CN and KCS, including the possibility that a transaction will not be agreed to or that the terms of any definitive agreement will be materially different from those described; the parties’ ability to consummate the proposed transaction; the conditions to the completion of the proposed transaction; that the regulatory approvals required for the proposed transaction may not be obtained on the terms expected or on the anticipated schedule or at all; CN’s indebtedness, including the substantial indebtedness CN expects to incur and assume in connection with the proposed transaction and the need to generate sufficient cash flows to service and repay such debt; CN’s ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction; the possibility that CN may be unable to achieve expected synergies and operating efficiencies within the expected time-frames or at all and to successfully integrate KCS’ operations with those of CN; that such integration may be more difficult, time-consuming or costly than expected; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees of KCS may be difficult; the duration and effects of the COVID-19 pandemic, general economic and business conditions, particularly in the context of the COVID-19 pandemic; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; the adverse impact of any termination or revocation by the Mexican government of KCS de México, S.A. de C.V.’s Concession; increases in maintenance and operating costs; security threats; reliance on technology and related cybersecurity risk; trade restrictions or other changes to international trade arrangements; transportation of hazardous materials; various events which could disrupt operations, including illegal blockades of rail networks, and natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should also be made to Management’s Discussion and Analysis in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors relating to CN. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement. No Offer or SolicitationThis news release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Additional Information and Where to Find ItThis news release relates to a proposal which CN has made for an acquisition of KCS. In furtherance of this proposal and subject to future developments, CN (and, if a negotiated transaction is agreed, KCS) may file one or more registration statements, proxy statements, tender offer statements or other documents with the U.S. Securities and Exchange Commission (“SEC”) or applicable securities regulators in Canada. This news release is not a substitute for any proxy statement, registration statement, tender offer statement, prospectus or other document CN and/or KCS may file with the SEC or applicable securities regulators in Canada in connection with the proposed transactions. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT(S), REGISTRATION STATEMENT(S), TENDER OFFER STATEMENT, PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CN, KCS AND THE PROPOSED TRANSACTIONS. Any definitive proxy statement(s), registration statement or prospectus(es) and other documents filed by CN and KCS (if and when available) will be mailed to stockholders of CN and/or KCS, as applicable. Investors and security holders will be able to obtain copies of these documents (if and when available) and other documents filed with the SEC and applicable securities regulators in Canada by CN free of charge through at www.sec.gov and www.sedar.com. Copies of the documents filed by CN (if and when available) will also be made available free of charge by accessing CN’s website at www.CN.ca. ParticipantsThis news release is neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC and applicable securities regulators in Canada. Nonetheless, CN and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transactions. Information about CN’s executive officers and directors is available in its 2021 Management Information Circular, dated March 9, 2021, as well as its 2020 Annual Report on Form 40-F filed with the SEC on February 1, 2021, in each case available on its website at www.CN.ca/investors/ and at www.sec.gov and www.sedar.com. Additional information regarding the interests of such potential participants will be included in one or more registration statements, proxy statements, tender offer statements or other documents filed with the SEC and applicable securities regulators in Canada if and when they become available. These documents (if and when available) may be obtained free of charge from the SEC’s website at www.sec.gov and www.sedar.com, as applicable. Contacts: MediaCanadaMathieu GaudreaultCN Media Relations & Public Affairs(514) 249-4735Mathieu.Gaudreault@cn.caLongview Communications & Public AffairsMartin Cej (403) 512-5730 firstname.lastname@example.orgUnited StatesBrunswick GroupJonathan Doorley / Rebecca Kral(917) 459-0419 / (917) email@example.com@brunswickgroup.comInvestment CommunityPaul ButcherVice-PresidentInvestor Relations(514) firstname.lastname@example.org __________________________ 1 All figures in U.S. dollars, except where noted. All conversions between Canadian dollars and U.S. dollars are based on a 0.827 foreign exchange rate as of May 12, 2021. Where applicable, figures are based on CN and CP closing share prices on the NYSE of $110.76 and $391.87, respectively, as of May 12, 2021.
Airbnb Inc beat Wall Street expectations for first-quarter gross bookings and revenue on Thursday, as speedy COVID-19 vaccinations and easing restrictions encouraged more people to check into its vacation rentals. Gross bookings jumped 52% to $10.29 billion in the quarter, easily beating analysts' estimates of $6.93 billion. "For guests aged 60 and above in the U.S., who were amongst the first groups to benefit from vaccine rollouts, searches on our platform for summer travel increased by more than 60% between February and March 2021," Airbnb said.
Here's your daily Autoblog public service announcement: Don't hoard gasoline, but if you do, absolutely do not let 20 gallons of it catch fire inside your 2004 Hummer H2. You might end up, as a Florida owner learned the hard way, with a very crispy Hummer. According to CBS affiliate WABI, in Citrus County Fire Rescue was called out to the scene at a Homosassa, Florida, Texaco station yesterday morning.
Elys Game Technology Achieves 39% Revenue Growth and Reports Record Revenue of $14.2 Million for the First Quarter of 2021
WICHITA, Kan. (AP) — No criminal charges will be filed against a Kansas sheriff's deputy who fatally shot an unarmed woman who refused to pull over during a high-speed police chase that began over a wrong license plate on a vehicle, a prosecutor said Thursday. Sedgwick County District Attorney Marc Bennett released his final report concluding that the deputy is immune from prosecution in the Dec. 30, 2019, death of 51-year-old Debra Arbuckle. Bennett cited the state's "stand your ground law'' under which a person who acts in defense of himself or another is immune from prosecution. He determined the deputy fired his weapon to stop what he perceived to be a threat of bodily injury to himself and his fellow deputies. Attorney Michael Kuckelman, who represents Arbuckle's son in a federal lawsuit over her death, said Thursday that the family is disappointed that Sedgwick County Deputy Kaleb Dailey is not facing a homicide charge. He said eluding an officer doesn’t warrant deadly force. “No other officer on the scene fired a single shot. That’s because Ms. Arbuckle wasn’t a threat to them,” Kuckelman said in a statement emailed to The Associated Press. The chase, which lasted 19 minutes, began after a Wichita police officer noticed a Volkswagen with a license plate tag registered to a Chevy pickup. The Volkswagen was stopped at an intersection, but when the officer activated his emergency lights, the driver ran a red light and sped away, according to authorities. The chase was at one point called off due to the speeds that were reached, but a sheriff's deputy who heard the chase on his law enforcement radio drove to the Volkswagen's last known location. The chase resumed with four pursuing deputies, and the Volkswagen was ultimately forced off the road. When the reverse lights of the Volkswagen activated, a deputy who was on the passenger side of the vehicle, believed the other deputies would be struck and fired his handgun six times, according to the district attorney's report. The lawsuit filed by Arbuckle's son, Alek Hansen, identifies the deputy who shot her as Dailey and contends Arbuckle's vehicle was surrounded by patrol cars. It says multiple law enforcement videos show that while Arbuckle did put her car in reverse, she never accelerated toward the deputies. “Her front wheel didn’t even have a tire on it. They rammed her car, ran it off the road, and they surrounded it with their cars. The officers weren’t in danger,” Kuckelman, the son's attorney, said in his statement Thursday. Arbuckle was pronounced dead at the scene. An autopsy determined she died as a result of a gunshot wound to the head. A toxicology report determined her blood was positive for cocaine. ___ This version corrects the first name of the woman who was killed to Debra, not Deborah. The Associated Press
Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American Silver" or the "Company") today reported the voting results from its annual general and special meeting of shareholders held May 12, 2021 in Vancouver, British Columbia (the "Meeting"). Each of the matters voted upon at the Meeting is described in detail in the Company's Management Information Circular dated March 22, 2021, which is available on the Company's website at panamericansilver.com.
The Portuguese Government has said it is continuing in its present ‘state of calamity’ until the end of May.
The head of a Miami demolition company disputed a Friday U.S. Department of Labor news release that claimed the company missed three payrolls and owed $533,778 in back wages after an investigation.
VOTI Detection Inc. ("VOTI" or the "Company") (TSXV: VOTI), a leading-edge Canadian technology company that develops latest-generation X-ray security systems based on 3D Perspective™ technology, today announced that it has completed its previously announced shares for debt transaction with holders of Convertible Debenture Units of the Company (see press release dated May 6, 2021). At the closing, VOTI issued to the participating holders a total of 8,906,392 common shares of the Company and warrants to purchase an aggregate of 4,333,333 common shares of the Company, each warrant being exercisable at $0.55 per share on or before May 13, 2024. The Convertible Debentures Units of the participating holders, comprised of convertible debentures in the total principal amount of $3,640,000 and warrants to purchase a total of 2,184,000 common shares, have been cancelled.
Calgary, Alberta--(Newsfile Corp. - May 13, 2021) - Storm Resources Ltd. (TSX: SRX) ("Storm" or the "Company") is pleased to announce the voting results from its annual general meeting of shareholders held on May 13, 2021. A total of 80,331,693 common shares, representing approximately 65.95% of Storm's issued and outstanding shares, were represented at the meeting.The following nominees were elected as directors of Storm for the ensuing year, with the specific voting results being ...
It’s been 13 years since Miami-Dade County added a name to its waiting list for federal Section 8 rental vouchers. On Thursday, the long wait just to make it onto the waiting list finally ended.
Midnight Bourdon hopes to take a path to the winner's circle at the Preakness that has successfully been run before — 30 years ago. Hansel was the horse hyped to win the Kentucky Derby three decades ago but struggled in the first leg of the Triple Crown. “He had been so consistent — he had never been out of the top three,” Bailey, now an NBC Sports analyst, said of Midnight Bourbon.
Disney CEO Bob Chapek said today’s decision by the Centers from Disease Control to dramatically adjust its guidance on masks for fully vaccinated adults is “very big news for us.” Speaking during the media giant’s quarterly earnings call with analysts, Chapek hailed the updated scientific view that vaccinated people can abandon masks in most indoor […]
The CRA can tax your gains from Bitcoin trading. But you can avoid this tax by investing in BTC smartly and in a tax-efficient way. The post Canada Revenue Agency: 3 Ways to Save Bitcoin Gains From the CRA’s Claws appeared first on The Motley Fool Canada.
Win over Manchester United ‘exactly what we needed’, says Liverpool’s Klopp
The sitcom originally aired for 10 seasons, from 1994 to 2004.
SAN FRANCISCO (AP) — The Golden State Warriors signed forward Juan Toscano-Anderson to a multiyear deal Thursday and forward Jordan Bell to a two-way contract for the remainder of the 2020-21 season. Toscano-Anderson originally signed a two-way contact with the Warriors in December. He is averaging 5.5 points, 4.3 rebounds and 2.7 assists in 55 games this season. The Oakland native has scored in double-figures 10 times, including a career-high 20-point performance on April 15 at Cleveland. Bell is back for a second stint with the Warriors after spending the 2017-18 and 2018-19 seasons with Golden State. He most recently signed a 10-day contract with the Washington Wizards at the end of April and appeared in five games, scoring 14 points and grabbing 19 rebounds. Bell is averaging 3.7 points and 3.1 rebounds in 159 career games with the Warriors, Minnesota, Memphis and Washington. ___ More AP NBA coverage: https://apnews.com/hub/NBA and https://twitter.com/AP_Sports The Associated Press
VICTORIA — COVID-19 immunization programs are making a difference in British Columbia and health officials say a gradual loosening of restrictions is being considered as case numbers decline. Provincial health officer Dr. Bonnie Henry says government data is showing reduced community transmissions as more people receive their first doses of vaccine. But she says any relaxing of current health restrictions on large gatherings and other events won't be under consideration until after the May holiday weekend and likely not until at least Canada Day. Health Minister Adrian Dix says more than 50 per cent of eligible people in B.C. have received their first vaccine dose, but current daily COVID-19 case counts of 500 to 600 people are still too high. Henry reports 587 new infections today and five deaths, bringing the total number of fatalities to 1,632 people. Henry also confirms a second person in B.C., a male in his 40s in the Fraser Health region, suffered the rare blood-clotting disorder after receiving a first dose of the Oxford-AstraZeneca vaccine, but he's listed in stable condition in hospital. This report by The Canadian Press was first published May 13, 2021. The Canadian Press
BOSTON (AP) — State Street Corporation has agreed to pay a $115 million criminal penalty to resolve charges that it schemed to defraud clients by secretly overcharging some of its customers for as long as 17 years, federal investigators said Thursday. All told, the Massachusetts-based global financial services company defrauded its customers to the tune of more than $290 million, investigators said. The company has agreed to fully reimburse victims of the misconduct for amounts they were overcharged. “State Street defrauded its own clients of hundreds of millions of dollars over decades in a most pedestrian way: they tacked on hidden markups to routine charges for out-of-pocket expenses,” Acting U.S. Attorney for Massachusetts Nathaniel Mendell said in a written statement. Investigators said that according to State Street’s admissions, between 1998 and 2015, bank executives conspired to add secret markups to “out-of-pocket” expenses charged to the bank’s clients while letting clients believe that State Street was billing expenses as pass-through charges on which the bank was not earning a profit. The markups were charged on top of fees that the clients had agreed to pay the bank, and despite written agreements that caused clients to believe the expenses would be passed through to them without a markup, investigators said. State Street executives also took steps to conceal the markups from clients, prosecutors said. A spokesperson for State Street said the company entered into the prosecution agreement to resolve its previously disclosed inquiry into the overcharges of some customers for items billed as out-of-pocket expenses, which the bank said it disclosed in 2015. “We regret these overcharges, which have also been the basis of prior settlements with regulators including the Securities and Exchange Commission,” the company said. “We have also invested, and continue to invest, significant resources to improve and strengthen our invoicing processes, controls and governance.” State Street has entered into a deferred prosecution agreement after being charged with one count of conspiracy to commit wire fraud and agreed to pay the $115 million penalty. The company also agreed to continue to cooperate with the U.S. attorney’s office in any ongoing investigations. Prosecutors said the resolution is based on a number of factors, including that State Street voluntarily disclosed the misconduct and fully cooperated with the investigation. The company also said the amounts to be paid in connection with the agreement are included in a previously established reserve. Steve Leblanc, The Associated Press