- The stock price of Kansas City Southern (NYSE: KSU) increased by over 15% pre-market. This is why it happened.
The stock price of Kansas City Southern (NYSE: KSU) increased by over 15% pre-market. Investors are responding positively to Canadian National Railway
(NYSE: CNI) making a $30 billion topping bid for Kansas City Southern, according to The Wall Street Journal. This will likely drive a bidding war for the company.
As part of the deal, Canadian National offered $325 for each Kansas City Southern, including $200 a share in cash and 1.059 Canadian National shares. This offer represents a 21% premium to Canadian Pacific Railway’s offer of $275 per share including $90 in cash for Kansas City Southern, which was a deal valued at about $29 billion last month.
The stock price of Kansas City Southern previous closed at $257.51.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.