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CP-KCS merger may be the last big rail deal

(Source: Bloomberg, April 12, 2021)

NEW YORK — Canadian Pacific Railway Ltd. has finally found the right target to realize its vision for railroad consolidation. The company agreed in March to acquire Kansas City Southern for $275 a share, or about $29 billion including debt. If completed, the merger would be the largest between two major North American railroads and the first successful one since the 1990s. Canadian Pacific’s failed attempts in recent years to acquire first CSX Corp. and then Norfolk Southern Corp. underscore why consummation of the Kansas City Southern acquisition is far from a fait accompli. But of all the possible railroad combinations, this is both the most strategically logical and the most likely to receive the blessing of regulators.

Full story: Bloomberg

Tuesday, April 13, 2021

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