Canadian Pacific Rail To Buy Kansas City Southern For $25 Billion

CP dropped a $28.4 billion hostile bid for Norfolk Southern Corp in 2016 and failed to finish a deal to buy CSX Corp in 2014.

What's Next

The two companies will hold an investor conference call today at 2 p.m. EST. To listen to the live conference call, dial (844) 450-0389 in the U.S. or (236) 714-3016 internationally. A live webcast of the call and the replay will be available on the CP website and the KCS website. Supporting materials will be posted on www.FutureForFreight.com.

Price Action

Shares of both companies hit 52-week highs late last week, with Canadian Pacific's NYSE-listed shares ending the week up 1.62% at $378.48 and Kansas City Southern ending the week up 3.54% at $224.16.

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