The Wall Street Journal: Canadian Pacific plans another, higher bid to buy Kansas City Southern

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Canadian Pacific Railway Ltd. is planning to make a new, increased offer for Kansas City Southern, according to people familiar with the matter, reigniting a takeover battle with Canadian National Railway Co. for the U.S. railroad.

Canadian Pacific’s board of directors met Monday to authorize a bid that values Kansas City Southern near $300 per share, the people said, or about $27 billion. There is no guarantee Canadian Pacific will follow through with the plan; if it does, it is expected to do so soon.

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