Canadian National

The Kansas City Southern Board of Directors has determined CN’s proposal to be a “Company Superior Proposal” and plans to terminate its announced March 21 merger agreement with Canadian Pacific Railway.

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.