By Stephen Nakrosis 
 

Shares of Kansas City Southern are trading higher in Monday's after-hours session, following an exclusive report in The Wall Street Journal that said Canadian Pacific Railway Ltd. is planning a new, higher bid for the railroad operator.

At 6:12 p.m. ET, shares of Kansas City Southern were trading 5.71% higher, at $285 each. Volume at the time topped 318,000 shares.

The stock finished the day's regular session with a 0.8% loss, closing at $269.90 a share.

As reported by The Wall Street Journal, Canadian Pacific in March said it agreed to buy Kansas City Southern in a deal valued at about $25 billion. Kansas City Southern later agreed to be acquired in a deal with Canadian National Railway Co. valued at about $30 billion.

At 5:59 p.m. ET, shares of Canadian Pacific were trading 3.21% lower, at $70.37 a share.

 

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

August 09, 2021 19:01 ET (23:01 GMT)

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