Canadian Pacific to Buy Kansas City Southern in $25 Billion Deal
Canadian Pacific Railway (NYSE: CP) is set to create the only true North American railroad whose rails will stretch from Canada, through the U.S., and down into Mexico.
The Financial Times reports the Calgary-based railroad will be acquiring Kansas City Southern (NYSE: KSU) for $275 per share, or $25 billion, in a cash and stock deal. The purchase will need to be approved by the Surface Transportation Board, which regulates railroad rates, mergers and acquisitions, and disputes among railways.
Image source: Canadian Pacific Railway.
Source Fool.com
