Kansas City Southern Calls Revised CN Bid Superior to CP Agreement
By Josh Beckerman
Kansas City Southern said it received a sweetened acquisition
proposal from Canadian National Railway Co. that it has deemed
"superior" to its merger agreement with Canadian Pacific Railway
The revised proposal calls for stockholders to receive $200 cash
and 1.129 CN shares per KCS share.
KCS has notified CP that it intends to terminate the CP deal,
"subject to CP's right to negotiate amendments to the merger
agreement for at least five business days and the KCS board's
further determination as to whether any such amendments would cause
the CN proposal no longer to constitute a 'Company Superior
KCS has a market capitalization of about $27.8 billion.
Write to Josh Beckerman at firstname.lastname@example.org
(END) Dow Jones Newswires
May 13, 2021 19:05 ET (23:05 GMT)
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