Kansas City Southern Shares Up After WSJ Reports Canadian Pacific Mulls Higher Bid
August 09 2021 - 7:07PM
Dow Jones News
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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