Diamonds and Dogs
Merger Monday is back. Kansas City Southern (KSU) is jumping 13% after agreeing to be acquired by Canadian Pacific in a stock and cash transaction representing an enterprise value of $29 billion. The deal is the biggest M&A deal announced thus far in 2021 creating the first rail network connecting the U.S., Mexico, and Canada.
AstraZeneca (AZN) jumping 3% after the company said its coronavirus vaccine was 79% effective against symptomatic Covid-19 in a final phase U.S. study. The study also shows the vaccine dramatically limited the severe or critical cases of Covid-19 along with hospitalizations. The results were consistent across ethnicities and age groups. AstraZeneca's Covid vaccine appears more effective than Johnson & Johnson's (JNJ) single-shot vaccine. Separately, the U.S. is expected to manufacture 132 million vaccine doses in March, compared with 48 million in February.
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