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Daily Headlines
AAR: Nov. 2015 carload traffic down 10.4 percent from Nov. 2014
(Source: Association of American Railroads press release, December 2, 2015) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported weekly U.S. rail traffic, as well as volumes for November 2015 and the first eleven months of 2015. Carload...
U.S. rail cargo drop accelerates, pointing to economic weak spots
(Source: Bloomberg, December 7, 2015) NEW YORK — A sharper decline in U.S. railway cargo this quarter points to weak spots in the U.S. economy as a strong U.S. dollar crimps exports, retailers whittle down excess inventory and energy investment stalls. Full story:...
Norfolk Southern statement on rejection of revised merger proposal from CP Rail
(Source: Norfolk Southern press release, December 8, 2015) NORFOLK, Va. — Norfolk Southern Corporation ("the Company") today confirmed that it has received a revised, reduced proposal from Canadian Pacific. Norfolk Southern noted that Canadian Pacific's revised,...
Ackman’s railroad ties
(Source: Bloomberg, December 8, 2015) NEW YORK — Canadian Pacific sure knows how to leave investors wanting more. After an underwhelming bid last month failed to entice Norfolk Southern to entertain a merger, the railroad operator and its No. 1 fan Bill Ackman were...
CP Rail takes off the gloves after NS rejects revised takeover offer
(Source: Canadian Press, December 8, 2015) MONTREAL — Canadian Pacific Railway has dropped the gloves in its battle to acquire Norfolk Southern after the U.S. railway immediately rejected a revised takeover offer. The Calgary-based company enlisted the help of...
NS rejects revised merger offer from CP Rail
(Source: Virginian-Pilot, December 8, 2015) NORFOLK, Va. — Norfolk Southern Corp. confirmed Tuesday that it received a new merger proposal from Canadian Pacific, then promptly rejected it just a few days after spurning the first offer. Full story: Virginian-Pilot
Rail shipper survey reveals lack of support for potential CP-NS merger
(Source: Railway Age, December 7, 2015) NEW YORK — About 71% of rail shippers surveyed by Cowen and Company do not support a merger between Canadian Pacific (CP) and Norfolk Southern (NS), even though opposition to a Class I merger per se has dropped, the company...
With Bill Ackman at its side, CP Rail tries to break all the rules of mergers
(Source: Forbes, December 8, 2015) NEW YORK — Stung by a seemingly unconditional rejection of its $28 billion takeover bid for Norfolk Southern, Canadian Pacific returned to the table on Tuesday with a new offer that included less cash and an overall value its target...
KCS Santa train attracts thousands in Victoria
(Source: Victoria Advocate, December 1, 2015) VICTORIA, Texas — The line for Santa's train was at least three times as long as the train itself. After a long and difficult trip from the North Pole, the Holiday Express train arrived in Victoria on Tuesday evening,...
Turtle crossings built beneath railroad tracks in Japan
(Source: Japan Times, December 1, 2015) KOBE — West Japan Railway Co. and Suma Aqualife Park in Kobe have jointly developed a system to prevent turtles from getting caught between railway switches. They found out from experiments that when turtles trying to cross the...
