Under the deal, CP agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately USD $31 billion. The deal includes the assumption of $3.8 billion of outstanding KCS debt.
The Louisville-Jefferson County Metro Government is selling a pair of 2012 Severn Lamb Miniature 24-inch gauge passenger trains on GovDeals, an online auction platform for government agencies and educational institutions to sell surplus equipment.
KCS intends to provide CP with nonpublic information and to engage in discussions and negotiations with CP with respect to CP’s proposal, subject in each case to the requirements of the CN merger agreement.
Kansas City Southern (NYSE: KSU) (“KCS”) today announced that it has received an unsolicited proposal from Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) (“CP”) reaffirming its interest in acquiring KCS.
The Surface Transportation Board rejected the use of a voting trust agreement to advance the proposed Canadian National Railway and Kansas City Southern Railway merger, striking a potential blow to the agreement.