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Kansas City Southern s board supports merger with Canadian National
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KCS 2Q21: Strong Volume; Service Short of Expectations
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| 0 Welbilt (NYSE:WBT) today announced that the Welbilt Board of Directors, in consultation with its legal and financial advisors, has determined that the revised unsolicited proposal (the “Revised Unsolicited Proposal”) from Ali Holding S.r.l. constitutes a “Company Superior Proposal”, as defined in Welbilt’s previously announced merger agreement with The Middleby Corporation (NASDAQ:MIDD). Under the terms of the Revised Unsolicited Proposal, Ali Group would acquire all of the outstanding shares of Welbilt common stock for $24 per share in cash, an increase from the previously disclosed $23 per share cash proposal made by Ali Group on May 25, 2021, which implies an enterprise value of approximately $4.8 billion. The proposal is binding on Ali Group and may be accepted by
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OTTAWA (dpa-AFX) - Responding to Canadian National Railway Co. s (CNI, CNR.TO) or CN commitment to divest and Kansas City Southern s (KSU) or KCS line between New Orleans and Baton Rouge, Canadian Pacific Railway Limited (CP, CP.TO) said Thursday that CN s commitment does not come close to solving the anti-competitive problems inherent in the proposed CN/KCS transaction.
CP noted that CN s commitment to divest this 70-mile line is clear recognition by CN that it and KCS have always been head-to-head competitors, contrary to CN s repeated claims that the combination was end-to-end.
On Wednesday, Canadian National Railway nd Kansas City Southern said they jointly filed with the Surface Transportation Board or STB a renewed motion for approval of its voting trust that outlines the case for approval of the voting trust to advance the CN-KCS merger that will enhance competition, Canadian National Railway said in a statement.
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