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CN today announced that it has made what it characterizes as a superior proposal to combine with Kansas City Southern in a cash-and-stock transaction valued at $33.7 billion, or $325 per share.
"Together, CN and KCS will create the premier railway for the 21st century, seamlessly connecting ports and rails in the United States, Mexico and Canada and providing superior service, enhanced competition and new market access to move goods across North America efficiently and safely," according to a CN press release issued this morning.
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Contact Progressive Railroading editorial staff.
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Kansas City Southern last week reported first-quarter 2021 revenue of $706 million, down 4% from the same period a year ago.
Overall, carload volumes were down 1% compared with volumes in Q1 2020, KCS officials said in a press release.
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