KSU - Kansas City Southern Reverses Course Favors Canadian Pacific Again
Kansas City Southern (NYSE: KSU) backtracked over the weekend, saying it plans to accept a $27.2 billion cash and stock acquisition offer from Canadian Pacific (NYSE: CP) and walk away from a rival bid from Canadian National (NYSE: CNI) .
It's the second time Kansas City Southern has changed its mind. The railroad initially agreed to let Canadian Pacific acquire it back in March , but it reversed course and accepted a $30 billion offer from Canadian National two months later.
The deal is not done yet, but there's good reason to believe this time around Canadian Pacific will be able to see its offer through to completion.
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Kansas City Southern Reverses Course, Favors Canadian Pacific Again