Kansas Metropolis Southern has agreed to accomplice once more with Canadian Pacific Railway Ltd.
The US Railroad mentioned its board of administrators unanimously determined that CP’s unsolicited provide, valued at roughly $ 31 billion, together with debt, “might moderately make it a superior provide” over CN’s provide of roughly $ 31 billion $ 33.6 billion together with debt.
KCS intends to supply personal info to CP and to carry talks and negotiations with the Calgary-based railroad.
Kansas Metropolis Southern says it stays certain by the phrases of the CN merger settlement and has not discovered CP’s proposal really superior.
CP Rail, which has given KCS a deadline of September 12 to evaluation its provide, is trying ahead to working with KCS once more.
The US Floor Transportation Board unanimously rejected CN and KCS ‘joint movement to approve using a voting fund, which was authorized for CP.