Canadian Pacific has agreed to purchase Kansas Metropolis Southern for $25bn, in what would the biggest deal on the 12 months, in accordance with folks with data of the matter.
The Calgary-based firm has provided to purchase the US freight railroad group for $275 per share in a money and inventory provide.
Kansas Metropolis Southern’s board has accepted the bid and the 2 firms have acquired the approval of the US Floor Transportation Board.
The transaction is anticipated to be introduced on Sunday, stated the folks with data of the matter.
The deal comes as US-Mexico commerce is anticipated to select up following the victory of Joe Biden within the 2020 US presidential elections towards Donald Trump.
The 2 firms couldn’t be instantly reached for remark.