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The unfolding of the Kansas City Southern takeover saga

Sep 14, 2021 at 08:22 AM CST

(Reuters) – Kansas City Southern said it planned to accept Canadian Pacific Railway Ltd’s $27.2 billion cash-and-stock acquisition offer as superior to its $29.6 billion deal to sell itself to Canadian National Railway Ltd. This comes after the U.S. Surface Transportation Board (STB) rejected a temporary “voting trust” structure last month that would have allowed Kansas City Southern shareholders to receive the $325-per-share cash-and-stock consideration under the deal with Canadian National without having to wait for full regulatory approval.