One of the largest shareholders in Canadian National Railway Co. said it’s prepared to launch a proxy fight to replace the company’s leader as the $30 billion deal to buy Kansas City Southern faces possible collapse.

Montreal-based Canadian National has offered $30 billion for its U.S. rival, but the transaction appears to have little chance of succeeding.

The Canadian National Railway’s $33.6 billion bid to merge with the smaller but strategically significant Kansas City Southern suffered a serious and possibly fatal blow Aug. 31, as the U.S. Surface Transportation Board unanimously voted to reject a vital component of the agreement.

Canadian National Railway Co. told its customers on July 14 that it’s temporarily suspending operations in parts of British Columbia due to wildfires, the latest snarl to rail traffic in the region after recent track damage left thousands of cars idled.

NEW YORK — Kansas City Southern has abandoned its agreement to be acquired by Canadian Pacific, choosing instead a competing bid from Canadian National Railway with a bigger price tag, but also greater regulatory risks.

Canadian National Railway reported healthy fourth-quarter income and revenue.

For the second consecutive quarter, Canadian National Railway felt the impact of the COVID-19 pandemic when the Class I, Montreal-based railroad announced third-quarter earnings Oct. 20.

Canadian National Railway is making a quick recovery from the eight-day strike by 3,200 Teamsters Canada Rail Conference conductors and yard crews, according to the Montreal-based railroad.

Canadian National Railway and the Teamsters Canada Rail Conference announced Nov. 26 the sides reached a tentative agreement to end the strike by 3,200 CN Rail conductors and yard crews.

Canadian National Railway pleaded for a neutral arbitrator Nov. 21 to resolve a strike by thousands of its conductors, yard workers and other employees who walked off the job Nov. 19.