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CN Rail Chief Pounces While Kansas City Southern Is in Play

Bid for U.S. railroad tops deal with Canadian Pacific by 20%
CN Railway ‘understood the competitive challenges’: analyst

General Views Of The Canadian National Railway — Photographer: Brent Lewin/Bloomberg

By

Thomas Black and

April 20, 2021, 11:16 AM UTCUpdated onApril 20, 2021, 9:02 PM UTC

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.

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.