December 18, 2015 | CP, Headlines, NS
(Source: Reuters, December 17, 2015) CHICAGO — Canadian Pacific Railway’s $27 billion bid for Norfolk Southern Corp risks coming unstuck due to regulatory scrutiny of its impact on the U.S. rail market, in particular the possibility it could spark competition-crushing...
December 18, 2015 | CP, Headlines, UP
(Source: Bloomberg, December 17, 2015) NEW YORK — Union Pacific Corp. jumped into the debate over railroad consolidation by saying that Canadian Pacific Railway Ltd.’s proposed takeover of Norfolk Southern Corp. risks adding to gridlock at the industry’s crucial...
December 17, 2015 | BNSF, CP, Headlines
(Source: Bloomberg, December 16, 2015) NEW YORK — Warren Buffett will be hard-pressed to top Canadian Pacific Railway Ltd.’s bid for Norfolk Southern Corp. because the billionaire’s BNSF Railway lacks the management depth to make enough improvements at the target...
December 17, 2015 | CP, Headlines, NS
(Source: Bloomberg, December 15, 2015) NEW YORK — Canadian Pacific Railway’s latest bid for Norfolk Southern fell flat with investors, just like the one that came before it. With each underwhelming offer, the company risks getting beaten at its own game. Full...
December 17, 2015 | CP, Headlines, NS
(Source: Globe and Mail, December 16, 2015) TORONTO — Canadian Pacific Railway Ltd. will seek a merger with another railway if Norfolk Southern Corp. shareholders don’t push the company to discuss a merger, warns Bill Ackman, a CP board member and head of the...
December 17, 2015 | CP, Headlines, NS
(Source: Norfolk Southern press release, December 16, 2015) NORFOLK, Va. — Norfolk Southern Corporation today confirmed that the Company’s board of directors will carefully consider the publicly disclosed, revised proposal from Canadian Pacific with the...
December 17, 2015 | CP, Headlines, NS
(Source: Canadian Press, December 16, 2015) CALGARY — Canadian Pacific Railway’s chief executive says he’s not averse to a bare-knuckle takeover brawl as the company enhanced its bid for Virginia-based Norfolk Southern with a variable payment that could...
December 17, 2015 | CP, Headlines, NS
(Source: Virginian-Pilot, December 16, 2015) NORFOLK, Va. — Canadian Pacific has sweetened its merger offer to Norfolk Southern Corp., though the sugar would kick in only if the stock price of the newly combined company fell below a certain threshold in 2017. Full...
December 16, 2015 | CP, Headlines, STB
(Source: Material Handling & Logistics, December 15, 2015) CLEVELAND — If a stalled attempted acquisition of Norfolk Southern by the owner of Canadian Pacific eventually proceeds, it would run smack into a Surface Transportation Board (STB) freshly reformed by...
December 16, 2015 | CP, Headlines, STB
(Source: Railway Age, December 14, 2015) NEW YORK — In response to the proposed merger between Canadian Pacific Railway (CP) and Norfolk Southern Corporation (NS), U.S. Senator Dick Durbin (D-Ill.) on Dec. 14, 2015 sent a letter signed by Democratic members of the...
