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Illustration: Aïda Amer/Axios

Kansas City Southern on Sunday said it has agreed to be acquired by Canadian Pacific Railway, in a deal that would create the only railway to run from Canada to Mexico.

Behind the scenes: This is the second time that KCS has agreed to be acquired by Canadian Pacific. It first accepted a takeover offer in March, but then walked away in May after a higher bid was submitted by rival railroad operator Canadian National Railroad.

  • But Canadian National ran into regulatory troubles, causing Kansas City to reopen talks with Canadian Pacific (which had upped its offer in early August, and which doesn't face the same regulatory issues).

Details: Canadian Pacific plans to pay $31.1 billion in cash and stock, including $3.8 billion of assumed debt. That's more than Canadian Pacific's original bid, but less than what Canadian National was prepared to pay.

Go deeper

Dan Primack, author of Pro Rata
Oct 25, 2021 - Economy & Business

Telstra buys Digicel's Pacific operations with government backing

Illustration: Aïda Amer/Axios

Telstra (ASX: TLS) agreed to buy the Pacific operations of telecoms firm Digicel Group for at least US$1.6 billion, with the Australian government providing most of the financing.

Why it matters: This is about Australia trying to blunt China's rising regional influence, following reports last year that Digicel was in talks to sell its Pacific business to China Mobile.

Updated 1 hour ago - Science

Nor'easter slams East Coast with flooding rain and powerful winds

A residential area in Middlesex County as floodwater from the nor'easter covers streets in New Jersey on Tuesday. Photo: Tayfun Coskun/Anadolu Agency via Getty Images

A monster storm was slamming the Northeast with record rainfall and powerful winds over Tuesday night — causing flash flooding that resulted in people having to be rescued in New Jersey and New York roads to close.

Threat level: All of southern New England westward to New York City and northern New Jersey was under the threat of flash flooding and coastal flooding from the nor'easter through Tuesday night into early Wednesday, per the National Weather Service.

1 hour ago - World

Blinken speaks with Sudan prime minister after his release

Sudan's Prime Minister Abdallah Hamdok. Photo: Ebrahim Hamid/AFP via Getty Images

Secretary of State Tony Blinken spoke on the phone on Tuesday evening with Sudan’s Prime Minister Abdalla Hamdok after the military released him from custody.

Why it matters: Hamdok’s release was a result of pressure on Sudan’s military leader General Abdul Fattah al-Burhan from the U.S. and other countries but also from the different political parties in Sudan and massive protests in the streets.