Happy talk press release chatter marks the end of a Kansas City institution.
Money line . . .
“We are delighted that Kansas City Southern has deemed CN’s binding proposal superior, recognizing the many compelling benefits of our combination and expressing confidence in CN’s ability to obtain the necessary approvals and successfully close the transaction," CN President and CEO JJ Ruest said. "Our proposal offers a clear path to completion and is structured in a way that gives KCS shareholders both greater immediate value and the opportunity to participate in the future upside of the combined company."
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Canadian National Railway, or CN, which operates the Kirk Yard in Gary and miles of rail in Northwest Indiana, outbid rival Canadian Pacific to buy Kansas City Southern and create a rail empire spanning North America.