The biggest business story in recent months is the fight between Canada’s two railway giants — Calgary-based Canadian Pacific (CP) and Montreal-based Canadian National (CN) — to take control of the American railway giant Kansas City Southern (KCS). The winner will own the continent’s first railway that links the United States, Mexico and Canada.
In March, CP signed a deal with KCS to buy it for US$25.2 billion ($31.4 billion), then CN swooped in and negotiated a deal to pay US$30 billion. KCS’s board of directors accepted the higher bid and paid a US$700-million break fee to CP.
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