(The following appeared on the Toronto Sun website on March 7, 2011.)
MONTREAL — Microsoft founder Bill Gates, the largest shareholder in Canadian National Railway Co., spent $8 million through his investment agency to increase his stake in the rail giant, Gates’ firm said in a statement.
Cascade Investment, LLC., headquartered in Medford, Ore., bought 111,560 CN shares for amounts ranging in value from $71.54 to $71.89.
Cascade now owns 8.15%, of CN shares for a value of $37.5 million.
Gates owns a further $8.56 million in CN shares through Bill & Melinda Gates Foundation Trust, a charitable trust for which Gates serves as a co-trustee.
Gates controls 10% of the rail company directly or indirectly.
The full story is on the Toronto Sun website.