Canadian National (CNI) Plans to Make $30B Topping Bid for Kansas City Southern (KSU) - DJ

April 20, 2021 6:47 AM EDT

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(Updated - April 20, 2021 6:49 AM EDT)

Canadian National (NYSE: CNI) plans to make a $30 billion topping bid for Kansas City Southern (NYSE: KSU), according to Dow Jones, citing sources.

Canadian National expects to make the offer Tuesday.

The offer was raised to $325 per share, including $200 in cash.

In March, Kansas City Southern agreed to be acquired by Canadian Pacific Railway Limited (NYSE: CP) for $29 billion in cash and stock, which includes the assumption of $3.8 billion of outstanding KCS debt, valuing KSU at approximately $268.67 this morning.

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