Autos & Transportation

Canadian National not to proceed with deal for Kansas City Southern

1 minute read

A Canadian National Railway train travels eastward on a track in Montreal, February 22, 2015. REUTERS/Christinne Muschi/File Photo

Sept 15 (Reuters) - Canadian National Railway Co (CNR.TO) said on Wednesday it would not proceed with its $29.6 billion offer to buy Kansas City Southern (KSU.N), paving the way for the U.S. railroad operator to be bought by rival Canadian Pacific Railway Ltd (CP.TO).

Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters