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Canadian National Railway Co is nearing a $33.7 billion deal to acquire U.S. railway operator Kansas City Southern, upending a $29 billion deal with its competitor Canadian Pacific Railway Ltd, people familiar with the matter said on Thursday.
The board of Kansas City Southern could choose Canadian National’s bid over the Canadian Pacific deal as early as Friday, the sources said. Canadian Pacific would then be given five days to make a new offer for Kansas City Southern. It is possible that Canadian Pacific may choose to preempt a Canadian National deal with a new bid.
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Explainer: The Dakota Access Pipeline faces possible closure
By Devika Krishna Kumar and Stephanie Kelly
Reuters
(Reuters) - A U.S. court could order the Dakota Access Pipeline (DAPL) shut in coming weeks, disrupting deliveries of crude oil, and making nearby rail traffic more congested.
WHAT IS DAPL?
The 570,000-barrel-per-day (bpd) Dakota Access pipeline, or DAPL, is the largest oil pipeline out of the Bakken shale basin and has been locked in a legal battle with Native American tribes over whether the line can stay open after a judge scrapped a key environmental permit last year.
A federal judge ordered the U.S. Army Corps of Engineers to update the court on its environmental review of the pipeline by May 3 and decide if it believes the line should shut during the process.