Canadian Pacific plans to make new, higher bid for Kansas City Southern

Canadian Pacific (pic) and larger rival Canadian National have been in a race to acquire Kansas City Southern, which would create a North American railway spanning the United States, Mexico and Canada, as supply chains recover from pandemic-led disruptions.

NEW YORK: Canadian Pacific Railway Ltd plans to make a new, increased offer for Kansas City Southern, valuing the U.S. railroad operator at about US$27 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. (https://on.wsj.com/3jDYHFP)

The reported offer comes months after Canadian Pacific refused to raise its bid for Kansas City Southern, with the U.S. company saying that Canadian National Railway's offer was "superior".