Press "Enter" to skip to content

CN steps up with $33B offer for Kansas City Southern, besting CP’s $25B bid

Canadian National Railway Co. has offered to buy U.S. railway Kansas City Southern in a cash-and-stock bid valued at $33.7 billion US.

The offer tops a proposal made by Canadian Pacific Railway valued at $25 billion.

The move would bring ports and rail lines in the United States, Mexico and Canada together under one network to create the most far-reaching transportation networks in North America.

“CN and KCS have highly complementary networks with limited overlap that will enable them to accelerate growth in single-owner, single-operator, end-to-end service across North America,” CN president J.J. Ruest said in a statement. 

“With safer service and better fuel efficiency on key routes from Mexico through the heartland of America, the result will be a safer, faster, cleaner and stronger railway.”

More to come

Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *