SUBSCRIBE

CATEGORIES

Canadian National offers more than $30 billion for Kansas City

imageStock Markets22 minutes ago (Apr 20, 2021 07:30AM ET)

(C) Reuters. FILE PHOTO: A wagon of a freight train of KCS Railway Company is pictured in Toluca

(Reuters) -Canadian National Railway Co said it had offered $33.7 billion for railroad operator Kansas City Southern (NYSE:KSU), trumping last month’s offer from rival Canadian Pacific (NYSE:CP) and sending the U.S. railroad operator’s shares up 21%.

Canadian National’s offer of $325 per shares represents a premium of 26.8% to Kansas City Southern’s last close on Monday.

CN’s offer includes $200 a share in cash and 1.059 Canadian National shares.

Last month, Canadian Pacific agreed to acquire Kansas City in a $25 billion cash-and-stock deal to create the first railway spanning the United States, Mexico and Canada, standing to benefit from a pick-up in trade.

Canadian National offers more than $30 billion for Kansas City

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.