Canadian National

Kansas City Southern’s Board of Directors unanimously determined that Canadian National Railway’s unsolicited proposal could reasonably be expected to lead to a “Company Superior Proposal” as defined in KCS’s merger agreement with Canadian Pacific Railway.

Canadian National Railway submitted an unsolicited proposal to acquire Kansas City Southern in a cash and stock transaction valued by CN at $325 per KCS share.

CN and Watco have reached an agreement to sell approximately 250 miles of “non-core lines and assets” on the Soo subdivision.