Hot deals

REUTERS reports:

Canadian National (CNR.TO) said on Tuesday it had offered to buy railroad operator Kansas City Southern (KSU.N) for about $30 billion, trumping a rival bid by Canadian Pacific (CP.TO) and sending the U.S. company’s shares up more than 20%.

Either combination will create the largest North American railways, spanning across the United States, Mexico and Canada, by transaction value.

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