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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 | |
---|---|---|---|---|---|---|---|---|---|---|
1.22 | 1.03% | 119.63 | 119.63 | 119.65 | 119.90 | 118.11 | 118.51 | 351,388 | 16:50:17 |
By Colin Kellaher
Shares of Kansas City Southern rose more than 15% in premarket trading Monday after the company agreed to be acquired by Canadian Pacific Railway Ltd. in a $25 billion deal that would create the first freight-rail network linking Mexico, the U.S. and Canada.
Based on Friday's closing prices, the cash-and-stock deal values Kansas City Southern at $275 a share, a 23% premium.
Canadian Pacific agreed to pay $90 in cash and issue 0.489 shares for each Kansas City Southern share, with Kansas City Southern shareholders owning 25% of the combined company.
Kansas City Southern shares, which closed Friday at $224.16, were recently up 17% to $261.70 in light premarket trading. U.S.-listed shares of Canadian Pacific, which closed Friday at $378.48, slipped 3%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 22, 2021 06:56 ET (10:56 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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