Canadian Pacific

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 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.