Railroad bidding war for Kansas City Southern is reignited

UNDATED (AP)- Canadian Pacific jumped back into the bidding war for Kansas City Southern Tuesday with an increased $31 billion offer for the U.S. railroad, but its latest bid remains lower than the rival $33.6 billion offer from Canadian National that Kansas City Southern accepted back in May. Still, the new offer from Canadian Pacific will give Kansas City Southern shareholders more to think about before they vote on the CN deal on Aug. 19. Investors are also still waiting to hear whether the U.S. Surface Transportation Board will approve a key part of CN’s plan to acquire Kansas City Southern, and that decision could come any day.