CN - Canadian National Railway Company (via Public) / CN AND KCS AFFIRM FINANCIAL STRENGTH OF KCS AND RIGHTS UNDER MERGER AGREEMENT TO INVEST IN KCS NETWORK (Form 6-K) publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.
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Kansas City Southern (NYSE: KSU) (“KCS”) today announced that its Board of Directors has unanimously determined, after consultation with the Company’s outside legal and financial advisors, that the unsolicited proposal received from Canadian National Railway (TSX: CNR, NYSE: CNI) (“CN”) on April 20, 2021 to acquire KCS in a cash and stock transaction valued by CN at $325 per KCS share could reasonably be expected to lead to a “Company Superior Proposal” as defined in KCS’s merger agreement with Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) (“CP”).
KCS intends to provide CN with nonpublic information and to engage in discussions and negotiations with CN with respect to CN’s proposal, subject in each case to the requirements of the CP merger agreement.
Kansas City Southern to Begin Discussions with Canadian National Railway
Kansas City Southern (NYSE: KSU) (“KCS”) today announced that its Board of Directors has unanimously determined, after consultation with the Company’s outside legal and financial advisors, that the unsolicited proposal received from Canadian National Railway (TSX: CNR, NYSE: CNI) (“CN”) on April 20, 2021 to acquire KCS in a cash and stock transaction valued by CN at $325 per KCS share could reasonably be expected to lead to a “Company Superior Proposal” as defined in KCS’s merger agreement with Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) (“CP”).
KCS intends to provide CN with nonpublic information and to engage in discussions and negotiations with CN with respect to CN’s proposal, subject in each case to the requirements of the CP merger agreement.