Transport Topics (Aug. 16, 2021)
Kansas City Southern Railroad has rejected the latest bid of $31 billion from Canadian Pacific in an attempt to keep its planned merger with Canadian National on track. Kansas City Southern said Aug. 12 that its board unanimously decided to continue backing CN\u2019s higher offer of $33.6 billion. KCS shareholders are scheduled to vote Thursday on whether to accept CN\u2019s offer, but the U.S. railroad said it may delay that vote if the U.S. Surface Transportation Board doesn\u2019t issue its decision on a key part of CN\u2019s acquisition plan before tomorrow. CN proposes to use a voting trust that would acquire KCS and hold the railroad during STB\u2019s review of the overall deal.\nLearn more about your ad choices. Visit podcastchoices.com/adchoices