Kansas City Southern picks Canadian Pacific bid for railroad

KANSAS CITY, Mo. (AP) — Kansas City Southern has decided that a $31 billion bid from Canadian Pacific is the best of two offers on the table to buy the railroad. The Kansas City, Missouri, company said in a statement Sunday that it has notified rival bidder Canadian National that it intends to terminate a merger agreement and make a deal with Canadian Pacific. But it’s not final yet. Canadian National still has five business days to negotiate amendments to its offer. Canadian National says it’s evaluating its options. The Kansas City Southern board could determine that a revised CN offer is better.