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CP Railway and KCS execute merger agreement

Canadian Pacific Railway Limited (CP) entered (15-Sep-2021) a merger agreement with Kansas City Southern (KCS) under a stock and cash transaction representing an enterprise value of approximately USD31 billion. KCS submitted a notice of termination for the proposed merger agreement with Canadian National, allowing CP Railway to execute a merger with KCS. CP president & CEO Keith Creel stated: " This perfect end-to-end combination creates the first U.S.-Mexico-Canada rail network with new single-line offerings that will deliver dramatically expanded market reach for CP and KCS customers, provide new competitive transportation options, and support North American economic growth". The transaction includes the assumption of USD3.8 billion of outstanding KCS debt. [more - original PR - Canadian Pacific] [more - original PR - Canadian National]

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