Kansas City Southern mulls US$27bil rail bid

FILE PHOTO: A freight train of the Kansas City Southern (KCS) Railway Company is pictured in Toluca, Mexico October 1, 2018. REUTERS

MONTREAL: Kansas City Southern will take a new look at Canadian Pacific Railway Ltd’s US$27bil (RM111.95bil) acquisition offer and hold talks with the company after a recent regulatory ruling jeopardised a rival bid that the US railroad had already accepted.

The board determined that the proposal from CP could “reasonably be expected” to lead to a superior offer, Kansas City Southern said in a statement. The company intends to open its books to its potential acquirer.