Railroad News
Sep
16
Sep
15
CN announced today that Kansas City Southern has provided notice of termination of the previously announced May 21, 2021, definitive merger agreement with CN.
The notice was provided after the KCS board determined on Sept. 12 that an updated acquisition proposal from Canadian Pacific was "superior" to CN’s offer to merge with KCS. Today, CP and KCS announced they have entered into a merger agreement, under which CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately $31 billion, which includes the assumption of $3.8 billion of outstanding KCS debt.