Deals
Kansas City Southern Likely to Start Talks With CN
- Railroad expected to declare offer could lead to superior bid
- CN battling with Canadian Pacific for U.S. railroad operator
A Canadian National Railway locomotive pulls a train in Montreal, Quebec, Canada.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Kansas City Southern is preparing to take a key first step to opening takeover talks with Canadian National Railway Co., according to people familiar with the matter, as the battle for the U.S. railroad operator heats up.
Kansas City Southern is expected to declare in the coming days that CN’s $30 billion proposal is likely to lead to an offer that’s superior to the deal it reached last month with Canadian Pacific Railway Ltd., said the people, who asked to not be identified because the matter is private. The move would allow it to start talks with the interloper.