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Canadian National not to proceed with deal for Kansas City Southern By Reuters 



© Reuters. FILE PHOTO: A Canadian National Railway train travels eastward on a track in Montreal, February 22, 2015. REUTERS/Christinne Muschi/File Photo

(Reuters) – Canadian National Railway (TSX:) Co said on Wednesday it would not proceed with its $29.6 billion offer to buy Kansas City Southern (NYSE:), paving the way for the U.S. railroad operator to be bought by rival Canadian Pacific (NYSE:) Railway Ltd.

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