CP Rail still seeking regulatory OK for KCS deal in case CN deal fails
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In this Nov. 5, 2004 file photo, the logo of Kansas City Southern is down on a restored 1954 Kansas City Southern passenger locomotive at Union Station in Kansas City, Mo. THE CANADIAN PRESS/AP-Norman Ng/The Kansas City Star via AP
CALGARY – Canadian Pacific Railway Ltd. says it is still seeking regulatory approval to acquire Kansas City Southern in case the U.S. railway’s deal with rival Canadian National Railway Co. is unable to go ahead.
In a letter to the U.S. Surface Transportation Board, the Calgary-based railway says it intends to proceed with its application seeking authority to acquire KCS, despite being rebuffed by the U.S. railway’s board earlier this month.
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CP Rail still seeking regulatory OK for KCS deal in case CN deal fails
by The Canadian Press
Last Updated May 21, 2021 at 10:28 am EDT
FILE - In this Nov. 5, 2004 file photo, the logo of Kansas City Southern is down on a restored 1954 Kansas City Southern passenger locomotive at Union Station in Kansas City, Mo. A bidding war is breaking out for Kansas City Southern, with Canadian National Railway making a $33.7 billion cash-and-stock offer for the railway. The bid trumps a $25 billion cash-and-stock proposal made by Canadian Pacific last month. Shares of Kansas City Southern jumped more than 18% in Tuesday, April 20, 2021 premarket trading.(Norman Ng/The Kansas City Star via AP)
Kansas City Southern agreed to a $30 billion merger with Canadian National Railway Co., scrapping a $25 billion deal with Canadian Pacific Railway Ltd. after it declined to boost its offer.