UK hedge fund manager Chris Hohn has demanded that Canadian National abandon its $34bn pursuit of Kansas City Southern, after the US railroad regulator rejected the way the transaction was structured as it held the potential to harm the public interest. 

In a letter to the board of CN seen by the Financial Times, the head of TCI, one of the largest shareholders in the Montreal-based company with a 5 per cent stake worth about $4bn, also called ...

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