Kansas City Southern Shares Rise Premarket on Canadian Pacific Deal
22 March 2021 - 10:11PM
Dow Jones News
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.
Canadian Pacific Kansas ... (TSX:CP)
Historical Stock Chart
From Apr 2024 to May 2024
Canadian Pacific Kansas ... (TSX:CP)
Historical Stock Chart
From May 2023 to May 2024
