VANCOUVER, Feb. 23 /CNW/ - On 23 February, 2011, Cascade Investment,
L.L.C. ("Cascade"), a limited liability company organized under the
laws of the State of Washington, acquired 35,784 Common Shares
("Shares"), of Canadian National Railway Company (the "Company")
representing .008% of the outstanding Shares. As the sole member of Cascade, William H.
Gates, III is deemed to have beneficial ownership of the Shares owned
by Cascade. Together with the Shares already held by Cascade, Cascade
now holds 37,392,378 Shares, representing approximately 8.14% 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
$2,489,626. 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 1.86% 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 45,955,815 of the Shares, representing approximately 10.0% 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 William H. Gates, III
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