Canadian Pacific Welcomes Re-engagement With KCS Board

(RTTNews) - Canadian Pacific Railway (CP.TO, CP) said it is ready to re-engage with the Kansas City Southern (KSU) Board of Directors following its determination that CP's revised offer to acquire KCS in a cash and stock transaction at $300 per KCS share can reasonably be expected to lead to a "Company Superior Proposal."

KCS said it intends to engage in discussions with CP with respect to CP's proposal, subject in each case to the requirements of the CN merger agreement.

In addition, KCS notes that there can be no assurance that the discussions with CP will result in a transaction.

In May, KCS entered into a definitive agreement with Canadian National Railway Company (CNR.TO, CNI), under which CN agreed to acquire KCS in a stock and cash deal valued at $325 per KCS share.