Canadian National Plans To Make $30 Billion Topping Bid for Kansas City Southern
April 20 2021 - 7:15AM
Dow Jones News
By Cara Lombardo
Canadian National Railway Railway Co. is planning to make a
roughly $30 billion topping bid for Kansas City Southern, according
to people familiar with the matter, likely kicking off a bidding
war for a railroad operator that has already agreed to a sale to
another Canadian rival.
Canadian National plans to offer $325 for each Kansas City
Southern share Tuesday, including $200 a share in cash and 1.059
Canadian National shares, the people said. The offer represents
about a 20% premium to Canadian Pacific Railway Ltd.'s agreement to
pay $275 a share including $90 in cash, a roughly $25 billion deal
reached last month.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
April 20, 2021 07:00 ET (11:00 GMT)
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