© Reuters. FILE PHOTO: A wagon of a freight train of KCS Railway Company is pictured in Toluca
(Reuters) -Canadian National Railway Co plans to make a $30 billion bid for railroad operator Kansas City Southern (NYSE:), the Wall Street Journal reported on Tuesday, citing people familiar with the matter. (https://on.wsj.com/3tykQJy)
Canadian National plans to offer $325 for each Kansas City Southern share, including $200 a share in cash and 1.059 Canadian National shares, the report said.
The offer represents about a 20% premium to Canadian Pacific (NYSE:) Railway Ltd’s March offer of $275 a share for Kansas City Southern, WSJ said.
Canadian National, Canadian Pacific and Kansas City were not immediately available for comment.
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