Status:  Upcoming/New Filing

freight trainAcquirer:  Canadian Pacific Railway Limited (Canada)

Acquired:  Kansas City Southern (US)

Value:  US$29 billion

Industries:  Transportation; Infrastructure; Railway

On March 21, 2021, Canadian Pacific Railway Limited, a publicly traded (TSX: CP, NYSE: CP) (“CP”) railway operator in “Canada and the United States with direct links to major ports on the west and east coasts,” entered into a merger agreement with publicly traded Kansas City Southern (NYSE: KSU), under which Canadian Pacific Railway will acquire Kansas City Southern “in a stock and cash transaction representing an enterprise value of approximately USD$29 billion . . . .”  (Press Release, Kansas City Southern, Form 8-K, Ex-99.1, Mar. 22, 2021, SEC Filing.)  The parties have agreed to notify CFIUS of the agreement and file with CFIUS “in no event later than 10 Business Days after the Closing . . . .”   (Section 5.8(b), Agreement and Plan of Merger, Kansas City Southern, Form 8-K, Ex-2.1, Mar. 22, 2021, SEC Filing.)

Please contact Peter Alfano with any questions.