(Reuters) – Canadian Pacific Railway Ltd posted a 47% rise in first-quarter profit, helped in part by strong freight volumes in its Canadian grain segment.
The results come a day after rival Canadian National offered to buy U.S. railroad Kansas City Southern in a $33.7 billion deal, trumping Canadian Pacific’s $25 billion bid and setting the stage for a bidding war.
(Reporting by Shreyasee Raj in Bengaluru; Editing by Devika Syamnath)
