KSU - Canadian Pacific reportedly doesn't plan to raise offer for Kansas City Southern

Canadian Pacific (CP) isn't expected to raise its over for Kansas City Southern (KSU) with today's deadline, according to the WSJ, which cited people familiar.Canadian Pacific in press release earlier called on the KSU board to reject what its clams is Canadian National Railway's (CNI) "anti-competitive" proposal."Respectfully, we feel it would be destructive to our mutual interests to engage in a bidding war in reaction to CN's illusory offer, particularly where our existing CP-KCS Merger Agreement provides KCS's shareholders with a significant premium," Canadian Pacific wrote in letter to KSU board.The report comes after a Tuesday dispatch from CNBC that also said KSU board was expected to stick with Canadian National bid.Also on Tuesday, Canadian National holder TCI says railroad operator should drop Kansas City Southern bid.Recall late last month, Kansas City Southern falls after Canadian Pacific CEO says not getting into bidding war.

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Canadian Pacific reportedly doesn't plan to raise offer for Kansas City Southern