VANCOUVER, Dec. 11, 2012 /CNW/ - On December 11, 2011, Cascade
Investment, L.L.C. ("Cascade"), a limited liability company organized
under the laws of the State of Washington, acquired 13,670 Common
Shares ("Shares") of Canadian National Railway Company (the "Company")
representing 0.003% of the outstanding Shares. As the sole member of Cascade, William H.
Gates, III of One Microsoft Way, Redmond, Washington 98052 is deemed to
have beneficial ownership of the Shares owned by Cascade. Together with
the Shares already held by Cascade, Cascade now holds 43,162,437
Shares, representing approximately 10.00% of the outstanding Shares.
The Shares were acquired through the facilities of the New York Stock
Exchange and electronic communication networks for an aggregate price
equal to the Canadian dollar equivalent of $1,254,299.05. Cascade may
increase or decrease its ownership of securities of the Company
depending upon future market conditions.
In addition, Bill & Melinda Gates Foundation Trust (the "Trust"), a
charitable trust for which Mr. Gates serves as a co-trustee, owns
8,563,437 Shares of the Company representing 1.98% of the outstanding Shares. As a co-trustee of the Trust, Mr. Gates is
deemed to have control or direction over the Shares owned by the
Trust. Mr. Gates does not have an economic interest in the Shares
owned by the Trust. The Trust may increase or decrease its ownership
of securities of the Company depending upon future market conditions.
As the sole member of Cascade and a co-trustee of the Trust, Mr. Gates
is deemed to have beneficial ownership of and/or control or direction
over 51,725,874 of the Shares, representing approximately 11.98% of the
All shares acquired and/or held by Cascade and the Trust were acquired
for investment purposes.
The issuance of this news release is not an admission that any person or
entity named in this release owns or controls any described securities
or is a joint actor with any other named person or entity.
SOURCE: Cascade Investment, L.L.C.