Canadian Pacific Railway made an offer on Tuesday to acquire Kansas City Southern for $31 million, escalating a bidding war for the U.S. railway. The offer comes in slightly lower than a rival bid from Canadian National, which agreed to acquire Kansas City Southern in May 2021 for $33.5 billion. Canadian Pacific indicated that its proposal has “significantly higher regulatory certainty.” Canadian Pacific was advised by Sullivan & Cromwell; Bennett Jones; and Stinson LLP. Creel-García-Cuéllar, Aiza y Enríquez advised Canadian Pacific on Mexican laws. Evercore, serving as the financial advisor to the board of Canadian Pacific, was represented by Blake, Cassels & Graydon.

This deal was surfaced by Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Law.com Radar publishes daily updates on just-announced transactions like this one. Click here to get started and be first to know about new suits in your region, practice area or client sector.

Read the press release here.