Kansas City Southern (KSU.US) stock soared 17% after the Wall Street Journal reported that Canadian National Railway (CNI.US) plans to make a $30 billion bid for the railroad operator, topping a last month’s $25 billion offer from Canadian Pacific. The Canadian National offer also includes $200 per share in cash, compared to $90 for the Canadian Pacific offer. The boards of Kansas City Southern and Canadian Pacific had then agreed on the transaction, which is now in limbo, with Canadian National claiming its offer to be superior.
Kansas City Southern (KSU.US) stock launched today’s session with a massive bullish price gap, bounced off the upper limit of the ascending channel and reached new all-time high at $299.00. Source: xStation5
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