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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian Pacific Kansas City Limited | TSX:CP | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.13 | 0.12% | 111.56 | 111.31 | 111.83 | 112.57 | 110.99 | 112.00 | 808,144 | 21:14:58 |
By Robb M. Stewart
Kansas City Southern's shares rallied Tuesday on the prospect of a bidding war after Canadian National Railway Co. made a roughly $30 billion offer that challenges an agreed sale to its Canadian rival.
In morning trading, Kansas City's shares were 16% higher at $296.30. They are up 45% so far in 2021, and have more than doubled over the past 12 months.
CN's shares were down 6.8% at C$138.17, while rival Canadian Pacific Railway Ltd.'s were 0.3% lower at C$456.65.
CN said it is offering $325 for each share of Kansas City Southern, including $200 a share in cash and 1.059 CN shares. Its bid represents a 21% premium to CP's agreement to pay $275 a share, including $90 in cash, in a roughly $25 billion deal reached last month.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
April 20, 2021 10:37 ET (14:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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