KSU - Kansas City Southern picks Canadian National Railway as Canadian Pacific is boxed out

Kansas City Southern ([[KSU]] +0.7%) formally announces that it has terminated its merger agreement with Canadian Pacific Railway ([[CP]] +0.7%) and struck a deal with Canadian National Railway ([[CNI]] -1.3%). Under the terms of the merger agreement, each share of Kansas City Southern stock will be exchanged for $200 in cash and 1.129 shares of CNI stock. In connection with the termination of the CP merger agreement, Kansas City Southern paid Canadian Pacific a breakup fee of $700M, which will be reimbursed by Canadian National Railway.The three railroad stocks have bounced around over the last few weeks on twists and turns in the KSU merger pursuit.Read more details about the highly-anticipated deal

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Kansas City Southern picks Canadian National Railway as Canadian Pacific is boxed out