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CN Rail Chief Pounces While Kansas City Southern Is in Play


CN Rail Chief Pounces While Kansas City Southern Is in Play
Bloomberg
2 hrs ago
Thomas Black and Derek Decloet
(Bloomberg) Canadian National Railway Co. offered $30 billion to snatch Kansas City Southern from a rival, spurring a possible bidding war in one of the industry’s biggest potential deals in decades.
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The bid of $325 a share consists of $200 in cash and 1.059 Canadian National shares for each share of Kansas City Southern, Montreal-based CN said in a statement. Canadian National gave its offer an enterprise value of $33.7 billion.
Tuesday’s offer tops a $25 billion deal Kansas City Southern reached with Canadian Pacific Railway Ltd. last month. ....

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