The bidding battle by Canadian National Railway Co. in the takeover of Kansas City Southern ended this week when CNR declined to increase its offer, giving way to Canadian Pacific Railway Ltd.
The deal will create the first railroad to span the U.S., Canada and Mexico. Kansas City Southern lines extend through Oklahoma.
Kansas City Southern terminated its $30 billion agreement with Canadian National and agreed to Canadian Pacific’s $27 billion merger proposal, according to a statement Wednesday reported Bloomberg.
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