Canadian Pacific (CP) is not currently exploring the possibility of improving its Kansas City Southern offering, despite stakeholder pressure. “There is no need at this time to look into that as we have an agreement with Kansas City Southern [KCS] Said Isabelle Corville, Chairman of CP, in an exclusive interview with Economic region.
There is a Canadian citizen [CN] Who made an unsolicited offer to the KCS Board of Directors, but this offer is under evaluation. This evaluation relates to the regulatory process
Corville explained on the ICI RDI broadcasts, Friday evening.
Meanwhile, CP considers his offer apt. The CIA chief added, for now, that the obvious answer is that we have no intention of improving our offer, because it is the only offer on the table.
Canadian National’s bid to buy Kansas City Southern is $ 34.7 billion. This corresponds to $ 325 a share. Canadian Pacific’s bid is $ 25.2 billion, or $ 275 a share. However, KCS stock on the New York Stock Exchange on Friday afternoon closed at $ 305.22 a share, indicating that the shareholders of the US company are expecting CP to boost its offer.
Our project is for all KCS stakeholders. For the shareholders, you are absolutely right, but also for the customers, as well as for the regulator, because he has to agree to the deal.
For the Chairman of the Board of Directors of the computer, it is difficult to The bidder Against ourselves as they say. The other offer is in regulatory limbo at the moment
.
The other offer from CN. In a press release, Canadian National said it can obtain the same regulatory approvals as CP, which is denied by Isabelle Corville. The only connection point between Canadian Pacific Railroad and KCS in Kansas City is in the Jointly Managed Catchment Yard. There is only one point of contact.
Canadian Pacific says its proposal will increase competition and provide new opportunities for Canadian companies to Mexico. This is a new offer that did not exist prior to the merger of the two institutions. I can talk to you about the grain sector, natural resources and the petroleum sector: in each case, there are examples where shippers will have new offerings that they did not have before. That’s it, increased competition
Ms. Corville concludes.
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