April 13, 2016 | CP, Headlines, KCS
(Source: Kansas City Business Journal, April 12, 2016) KANSAS CITY, Mo. — With the collapse of Canadian Pacific Railway Ltd.’s $28 billion takeover bid for Norfolk Southern Corp., speculation again has turned to Kansas City Southern, Reuters reports. Full story:...
April 13, 2016 | CP, Headlines, NS
(Source: Energywire, April 12, 2016) WASHINGTON, D.C. — Midwestern coal shippers can breathe a sigh of relief as a proposed rail merger fizzled out yesterday, burying fears about potential costs and delays. Full story: Energywire
April 13, 2016 | CP, Headlines, NS
(Source: Railway Age opinion column by William c. Vantuono, April 11, 2016) NEW YORK — Well, it’s all over but the ruminating and regurgitating: Hedge fund king Bill Ackman had his blinders ripped off, read the handwriting on the wall, and wisely deep-sixed his...
April 13, 2016 | CP, Headlines, NS
(Source: Business News Network, April 11, 2016) OTTAWA — The CEO of Canadian Pacific Railway says the swell of powerful opposition to the proposed takeover of Norfolk Southern ultimately convinced him that the US$28-billion bid for the Virginia-based railway would...
April 12, 2016 | Canada, CP, Headlines
(Source: Canadian Press, April 11, 2016) REGINA, Sask. — The Transportation Safety Board is investigating another case of a runaway railway car rolling through a Saskatchewan city. The board says on March 27 an empty Canadian Pacific Railway hopper car rolled through...
April 12, 2016 | CP, Headlines, NS
(Source: Reuters opinion column by Robert Cyran, April 11, 2016) NEW YORK — Canadian Pacific Railway’s $28 billion bid for rival Norfolk Southern pushed all the wrong deal buttons. The now-abandoned, unsolicited offer managed to alienate nearly every ally the railway...
April 12, 2016 | CP, Headlines, NS
(Source: Reuters, April 11, 2016) CHICAGO — Canadian Pacific Railway Chief Executive Hunter Harrison on Monday said the company would consider using cash once planned to acquire rival Norfolk Southern Corp for a potential buyback, dividend, or combination of both....
April 12, 2016 | CP, Headlines, NS
(Source: Norfolk Southern press release, April 11, 2016) NORFOLK, Va. — Norfolk Southern today issued the following statement regarding Canadian Pacific’s withdrawal of its unsolicited acquisition proposal and its related shareholder resolution: “Norfolk Southern’s...
April 12, 2016 | CP, Headlines, NS
(Source: DC Velocity, April 11, 2016) WASHINGTON, D.C. — Facing a battle it seemed destined to lose, Canadian Pacific Railway (CP) said today it would end its efforts to acquire Norfolk Southern Corp. (NS) for US$28 billion to create North America’s first...
April 11, 2016 | CP, Headlines, NS
(Source: Reuters, April 8, 2016) NEW YORK — The Department of Justice on Friday urged a regulator to reject a voting trust that Canadian Pacific Railway Ltd. has proposed as part of its takeover bid for Norfolk Southern Corp, saying it could hurt competition and would...
