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September 8, 2021

Railroad eyes $31B Canadian offer

OMAHA, Neb. (AP) — Kansas City Southern is in talks with Canadian Pacific to determine whether its $31 billion bid for the railroad is the best offer on the table after regulators rejected a key part of Canadian National's $33.6 billion bid last week.

Kansas City Southern said Saturday that its board believes CP's lower offer could be the better deal. That would be because the Surface Transportation Board said Canadian National won't be able to use a voting trust to acquire Kansas City Southern and then hold the railroad during the board's lengthy review of the overall deal.

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