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CP Warns Shareholders to Reject TRC Capital Investment Mini-Tender Offer.

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MANews-(C)2009-2022

Canada-based railroad operator Canadian Pacific (TSX: CP) (NYSE: CP) has received notice of an unsolicited mini-tender offer from Canadian investment firm TRC Capital Investment Corp. to purchase up to 1.5m common shares of Canadian Pacific, representing approximately 0.16 % of the outstanding shares of common stock, at a price of CDN 88.50 per share, the company said.

CP does not endorse this unsolicited offer, and advises CP shareholders that the offer has been made at a price 4.37 and 4.49% respectively, below market price, as of CP's closing price on the Toronto Stock Exchange and the New York Stock Exchange on May 2, 2022, the date of the offer.

CP said it has no association with TRC Capital or its offer, and recommends that shareholders do not tender their CP shares to the offeror.

The Canadian Securities Administrators have issued...

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