Canadian Pacific Railway (CP) inks a deal to buy Kansas City Southern (KSU) and then out-of-the-blue Canadian National Railway (CNI) offers about $5-billion more. It looks like CNI will now buy KSU. Is that considered a hostile takeover?
My understanding is ksu accepted the deal. That’s not hostile. However CNI’s board wants them to reneg. Ksu is holding cni accountable for reneging to the tune of $1b. It’s CNI’s move.