Deals

CP Rail Offers $25 Billion for Kansas City Southern

Cash and stock offer represents 23% premium to Friday’s close
Deal to create only rail network to cut through North America

Kansas City Southern Trains Ahead Of Earnings Figures — Photographer: Whitney Curtis/Bloomberg

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By Gillian Tan and Thomas Black

March 21, 2021 at 2:45 AM UTC

Updated on

March 21, 2021 at 5:42 AM UTC

This article is for subscribers only.

Canadian Pacific Railway Ltd. has offered to buy Kansas City Southern for $25 billion, according to people familiar with the transaction.

The Calgary-based company has offered $275 a share in a cash and stock deal, said the people, who asked not to be named because the information isn’t yet public. A transaction may be announced as soon as Sunday, one of the people said.