Kansas City Southern de Mexico railroad locomotive parked in Forth Worth, Texas, on May 11, 2017. Photo: Shutterstock Deal Watch: Big News in Big Rail, Merger of Chubb and Hartford Looms
SPACs came down a bit this week, while Canadian Pacific and Kansas City Southern plan a merger in the second-largest deal of 2021.
March 22, 2021 at 03:48 PM
8 minute read
With all the tech, pharma and life sciences M&A work out there, one could be forgiven for forgetting that there are in fact some legacy industries, such as insurance and transportation, where big players are also looking to make moves.
A reminder of that point came Sunday as Canadian Pacific Railway and Kansas City Southern announced that they will merge, in a deal where Canadian Pacific will acquire Kansas City Southern for $29 billion, including the assumption of $3.8 billion in KCS debt. The only deal of 2021 that exceeded that value was last week's AerCap/General Electric deal, which ticked in at $30 billion. Details of the deal are below.
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