February 11, 2016 | CP, Headlines, NS
(Source: Bloomberg, February 11, 2016) NEW YORK — Canadian Pacific’s pursuit of Norfolk Southern is in limbo, and it may be time to move on. Full story: Bloomberg
February 11, 2016 | CP, Headlines, NS
(Source: Associated Press, February 10, 2016) OMAHA, Neb. — Norfolk Southern Chief Financial Officer Marta Stewart declined to discuss Canadian Pacific’s offers at a conference Wednesday. Instead she outlined elements of Norfolk Southern’s plan to cut $130...
February 11, 2016 | CP, Headlines, NS
(Source: Bloomberg, February 10, 2016) NEW YORK — Canadian Pacific Railway Ltd. is ready to end efforts to buy Norfolk Southern Corp. if shareholders of the U.S. railroad reject a resolution calling for merger talks, the head of the Calgary-based company said. Full...
February 10, 2016 | CP, Headlines, NS
(Source: Canadian Pacific press release, February 9, 2016) CALGARY, Alberta — Canadian Pacific today notified Norfolk Southern Corp. (NS) of its intent to submit a resolution to NS’ shareholders to ask their board of directors to engage in good faith discussions...
February 10, 2016 | CP, Headlines, NS
(Source: Norfolk Southern press release, February 9, 2016) NORFOLK, Va. — Norfolk Southern Corporation today issued the following statement regarding the non-binding shareholder proposal submitted by Canadian Pacific: “CP has proposed a non-binding resolution that NS...
February 10, 2016 | CP, Headlines, NS
(Source: Reuters, February 9, 2016) NEW YORK — Canadian Pacific Railway said on Tuesday it planned to seek support from Norfolk Southern Corp’s shareholders to push the U.S. railroad’s board to engage in takeover talks. Full story:...
February 9, 2016 | CP, Headlines, NS
(Source: Seeking Alpha opinion column by Cameron Conway, February 9, 2016) NEW YORK — I wrote previously about how eventually CP Rail would run out of internal cuts to fuel its rising net income and would have to rely on gimmicks and PR misdirection to keep itself in...
February 8, 2016 | CP, Headlines, NS
(Source: DC Velocity, February 5, 2016) WASHINGTON, D.C. — A merger between Canadian Pacific Railway (CP) and Norfolk Southern Corp. (NS) would not force other U.S. railroads to merge in order to remain competitive, CP said Wednesday. Full story: DC...
February 5, 2016 | CP, Headlines, STB
(Source: New York Post, February 4, 2016) NEW YORK — Two New York congressmen are trying to derail Canadian Pacific Railway’s effort to buy Norfolk Southern. Reps. Jerrold Nadler and Sean Patrick Maloney on Thursday sent a letter to the US Surface Transportation...
February 5, 2016 | CP, Headlines, STB
(Source: Press release from the office of U.S. Senator Joe Donnelly, February 4, 2016) WASHINGTON, D.C. — Today, U.S. Senator Joe Donnelly led a bipartisan group of members from the Indiana congressional delegation in urging the Surface Transportation Board (STB) to...
