Goldman, BMO to Provide $8.6 Billion Bridge Loan on CP Rail Deal
(Bloomberg) -- Bank of Montreal and Goldman Sachs Group have committed to an $8.6 billion bridge loan for Canadian Pacific Railway Ltd. to help finance the purchase of Kansas City Southern, according to a person familiar with the matter.
- The bridge loan is expected to be syndicated, said the person, who spoke on condition they not be identified
- CP’s proposed $275-per-share offer for Kansas City Southern includes $90 per share, or more than $8 billion, in cash
- Total deal value is about $29 billion including the assumption of debt, according to a statement
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