KIRKLAND, WA, Aug. 2, 2019 /CNW/ - Cascade Investment, L.L.C. ("Cascade") announced today that it acquired 48,838 common shares ("Common Shares") of Canadian National Railway Company ("CN Rail"). The Common Shares were acquired over the facilities of the New York Stock Exchange for a purchase price of US$92.97 per share. Following completion of the acquisition, Cascade owns an aggregate of 100,449,608 Common Shares, representing approximately 13.94% of the issued and outstanding Common Shares.
As the sole member of Cascade, William H. Gates III beneficially owns the Common Shares owned by Cascade. In addition, Mr. Gates is deemed to have beneficial ownership of Common Shares owned by the Bill & Melinda Gates Foundation Trust (the "Trust"), a charitable trust for which Mr. Gates serves as co-trustee. The Trust currently owns 17,126,874 Common Shares, representing approximately 2.38% of the issued and outstanding Common Shares. In aggregate, Cascade and the Trust own 117,576,482 Common Shares, representing approximately 16.31% of the issued and outstanding Common Shares.
Cascade acquired the Common Shares for investment purposes. Cascade or the Trust may increase or decrease their ownership of securities of CN Rail depending upon future market conditions.
SOURCE Cascade Investment, L.L.C.
For further information: or to obtain a copy of the Early Warning Report filed by Cascade and Mr. Gates, please see the contact information below: Jacki Badal, Attorney, Cascade Investment, L.L.C., Tel: +1 (425) 889-7900, Fax: +1 (425) 803-0459