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Canadian Pacific asks Kansas City shareholders to reject Canadian National deal

Reuters 2 minute read A logo of the Kansas City Southern (KCS) Railway Company is pictured in Toluca, Mexico October 1, 2018. REUTERS/Edgard Garrido/File Photo July 29 (Reuters) - Canadian Pacific Railway Ltd (CP.TO) on Thursday asked Kansas City Southern (KSU.N) shareholders to vote against a deal with Canadian National Railway Co at a meeting next month. Kansas City shareholders should reject Canadian National s $33.6 billion bid as there are regulatory risks involved, Canadian Pacific said in a regulatory filing, adding that the proposed acquisition can be decided later. The terms of Canadian National s deal would bind Kansas City shareholders with the merger agreement until next year, instead of being free to pursue other opportunities that may be in the best interests of KCS stockholders, Canadian Pacific Railway said.

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