Canadian Pacific Railway Ltd. plans to make a new offer to buy Kansas City Southern, according to a report in The Wall Street Journal. The new bid reportedly would be higher than Canadian Pacific’s previous offer but less than one put forth by Canadian National Railway Co.
The move ratchets up pressure by Canadian Pacific to derail a deal between KC Southern and Canadian National. KC Southern shareholders are set to vote on a proposal to sell to Canadian National on Aug. 19.
The Wall Street Journal,…Report: Canadian Pacific readies a new, richer offer to acquire KC Southern
Canadian Pacific Railway Ltd. plans to make a new offer to buy Kansas City Southern, according to a report in The Wall Street Journal. The new bid reportedly would be higher than Canadian Pacific’s previous offer but less than one put forth by Canadian National Railway Co.
The move ratchets up pressure by Canadian Pacific to derail a deal between KC Southern and Canadian National. KC Southern shareholders are set to vote on a proposal to sell to Canadian National on Aug. 19.
The Wall Street Journal,…
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Kansas City Southern’s proposed sale delivered a real financial blow in the second quarter — at least on paper.
The Kansas City-based railroad company reported $720.8 million in costs related to its pending sale to Canadian National Railway Co. That nearly equaled revenue — $749.5 million — for the period that ended June 30 and was the main factor leading to a $378 million loss.
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