An iconic American company accepts the winning bid and stops teasing suitors.
Meanwhile, I was torn and wanted to pay tribute to hottie Jordan with the lead photo for some reason . . .
Anyhoo . . . Dangerous curves and rail yard shenanigans aside, here's the money line . . .
"The companies valued the cash-and-stock deal at $31 billion including the assumption of debt. The merger still needs approval from shareholders, Mexican regulators and the U.S. Surface Transportation Board.
"With the combination, Canadian Pacific would become the first railroad to operate in Canada, the U.S. and Mexico, where Kansas City Southern gets about half its revenue. The Canadian carrier will enlarge its network by 50% to 20,000 miles of track from Vancouver to Veracruz, Mexico."
Read more via www.TonysKansasCity.com news links . . .
Canadian Pacific Railway Ltd. and Kansas City Southern have agreed to a roughly $30 billion deal that if approved would be the first major railroad merger in the U.S. in about two decades. Kansas City Southern has agreed to sell itself to Canadian Pacific in a cash-and-stock transaction that gives it a roughly $31 billion enterprise value, including $3.8 billion in debt, the companies said Wednesday.
Sept 15 (Reuters) - Canadian Pacific Railway Ltd (CP.TO) inked a $27.2 billion cash-and-stock deal to buy Kansas City Southern (KSU.N) on Wednesday after Canadian National Railway Co (CNR.TO) conceded it could not save its own $29.6-billion deal for the U.S. railway.
Here's one without a paywall . . .
(Bloomberg) -- Canadian National Railway Co. has declined to increase its offer for Kansas City Southern after a months-long takeover battle, a person familiar with the matter said, ceding to Canadian Pacific Railway Ltd.
Developing . . .