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Kansas Metropolis Southern board agrees to re-rob with CP Rail, after regulator rejects CN bid

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Kansas Metropolis Southern board agrees to re-rob with CP Rail, after regulator rejects CN bid

Kansas Metropolis Southern board agrees to re-rob with CP Rail, after regulator rejects CN bid | CBC News Loaded

Early Newspaper

Calgary

Kansas Metropolis Southern has agreed to re-rob with Canadian Pacific Railway Ltd. after the U.S. transportation regulator positioned a roadblock in direction of the bid from rival Canadian Nationwide Railway Co.

CP Rail has given a closing date of Sept. 12 for KCS to gain into memoir its offer

The Canadian Press

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Kansas Metropolis Southern will re-rob with Calgary-primarily primarily based Canadian Pacific Railway, which has recommend an unsolicited bid of about $31 billion US. (Ryan Remiorz/The Canadian Press)

Kansas Metropolis Southern has agreed to re-rob with Canadian Pacific Railway Ltd. after the U.S. transportation regulator positioned a roadblock in direction of the bid from rival Canadian Nationwide Railway Co.

The U.S. railway says its board of directors unanimously particular that CP’s unsolicited proposal price about US$31 billion including debt would possibly maybe “moderately be anticipated to lead to it changing into a superior proposal” to CN’s bid, price about US$33.6 billion including debt.

KCS intends to provide CP with non-public records and to rob in discussions and negotiations with the Calgary-primarily primarily based railway.

Kansas Metropolis Southern says it stays skedaddle by the phrases of the CN merger settlement and has not particular that CP’s proposal is basically superior.

CP Rail, which has given a closing date of Sept. 12 for KCS to gain into memoir its offer, says it appears to be like forward to re-partaking with KCS.

The U.S. Surface Transportation Board unanimously rejected CN and KCS’s joint movement for approval to be used of a voting belief, something it accepted for CP.

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Kansas Metropolis Southern board agrees to re-rob with CP Rail, after regulator rejects CN bid