Over the weekend, Canadian Pacific Railway and Kansas City Southern (KCS) announced they have entered into a merger agreement, under which CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately USD $29 billion, which includes the assumption of $3.8 billion of outstanding KCS debt.
Following final approval from the surface transportation board, the transaction will combine the two railroads to create the first rail network connecting the U.S., Mexico, and Canada.
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