Canadian railway CN (NYSE: CNI) has offered to acquire Kansas City Southern (NYSE: KSU) in a cash-and-stock transaction worth $33.7 billion, or $325 per share.
CN rival Canadian Pacific (NYSE: CP) last month announced plans to acquire Kansas City Southern (KCS) for $29 billion.
CN said Tuesday morning the offer provides “greater value and certainty” to KCS shareholders. CN also will seek to establish a voting trust to acquire KCS, which is what CP was planning on doing for its merger with KCS.
“Un...
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