CP - Kansas City Southern Nearing Talks With Suitor Canadian National
Kansas City Southern (NYSE: KSU) is reportedly close to declaring that a $33 billion bid that was launched by Canadian National Railway (NYSE: CNI) is superior to a $30 billion offer from Canadian Pacific (NYSE: CP) . This will set off a bidding war for one of the most coveted assets in transportation .
In March, Canadian Pacific (CP) announced plans to acquire Kansas City Southern in what would be the first major railroad deal in 20 years. But earlier this week, Canadian National (CN) stepped in, submitting its own unsolicited bid .
Image source: Kansas City Southern.
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Kansas City Southern Nearing Talks With Suitor Canadian National