Kansas City Southern reported mixed third-quarter financial results on Oct. 19, as the Class I freight railroad saw a 13% jump in revenue to $744 million, compared with $659.6 million a year earlier.

Canadian National Railway Co. declined to increase its offer for Kansas City Southern after a monthslong takeover battle, ceding to Canadian Pacific Railway Ltd. a prize that would create the first railroad spanning the U.S., Canada and Mexico.

Just hours before the expiration of a Sept. 12 deadline, Kansas City Southern accepted a $31 billion merger proposal from Canadian Pacific Railway.

Canadian Pacific Railway has edged ahead of rival Canadian National in the back-and-forth battle to acquire Kansas City Southern, as a key vote from KCS shareholders and an earlier ruling from the Surface Transportation Board point toward resolution of a duel that has been brewing for the better part of six months.

The Canadian National Railway’s $33.6 billion bid to merge with the smaller but strategically significant Kansas City Southern suffered a serious and possibly fatal blow Aug. 31, as the U.S. Surface Transportation Board unanimously voted to reject a vital component of the agreement.

Hurricane Ida forced Kansas City Southern to shut its main line in Louisiana and has halted exchanges between railroads in New Orleans, which may worsen delays in a U.S. shipping industry that already is stretched thin.

A shareholder vote on the proposed $33.6 billion acquisition of Kansas City Southern by Canadian National Railway has been delayed until Sept. 3 to provide time for government officials to rule on whether CN can operate KCS while the deal is under federal review.

OMAHA, Neb. — Kansas City Southern railroad is trying to keep its $33.6 billion merger with Canadian National on track by rejecting a competing $31 billion bid from rival Canadian Pacific earlier this week.

NEW YORK — Canadian Pacific has upped its offer for Kansas City Southern to approximately $31 billion, potentially reigniting a bidding war with rival railroad Canadian National.

Canadian National Railway Co.’s $30 billion takeover bid for Kansas City Southern received a boost Aug. 6 when a prominent shareholder advisory firm recommended that shareholders support the deal.