The Great Train Takeover


The fiercest takeover battle of 2021 took place in a sector that hadn’t seen a major deal in over 20 years: the railroad industry. It began when Canadian Pacific agreed to buy smaller rival Kansas City Southern, a deal that would create the first US-Mexico-Canada railroad. But as the FT’s Arash Massoudi explains, everything changed when rival Canadian National gatecrashed the party.

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