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Canadian Pacific (CP) has its nose back in front of rival CN in the quest to take over Kansas City Southern (KCS).
The board of the US railway announced yesterday it regarded the offer from the smaller of the two Canadian bidders “superior”.
It said CP’s revised proposal constituted a “company superior proposal’, as defined in KCS’s merger agreement with Canadian National, adding that the determination was made after consultation with outside legal and financial advisors.
CP and KCS top brass agreed in ...
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