December 16, 2015 | CP, Headlines, NS
(Source: Dow Jones Newswires, December 14, 2015) WASHINGTON, D.C. — Norfolk Southern Co. on Monday officially rejected Canadian Pacific Railway Ltd.’s latest $30 billion bid to merge the two railroads, bringing the rivals a step closer to a potential proxy...
December 16, 2015 | CP, Headlines, NS
(Source: Associated Press, December 15, 2015) OMAHA, Neb. — Canadian Pacific said Tuesday that getting regulatory approval for its proposed multi-billion-dollar purchase of Norfolk Southern shouldn’t be a problem. Norfolk Southern has rejected two cash-and-stock...
December 16, 2015 | CP, Headlines, NS
(Source: Railway Age, December 15, 2015) NEW YORK — December 7, 2015: A day that will live in infamy for anyone attempting to follow the volley of legalese and rhetoric being tossed about by Canadian Pacific and Norfolk Southern as CP attempts to marry up with NS in...
December 16, 2015 | CP, Headlines, NS
(Source: Norfolk Southern press release, December 15, 2015) NORFOLK, Va. — Norfolk Southern Corporation (NYSE: NSC) today commented on Canadian Pacific’s response to the white paper prepared by former Surface Transportation Board (“STB”)...
December 16, 2015 | CP, Headlines, NS
(Source: Canadian Pacific Railway press release, December 15, 2015) CALGARY, Alberta — Canadian Pacific today responded to Norfolk Southern’s December 7, 2015 white paper. The full text of CP’s white paper is below. Full story: CP Rail press...
December 15, 2015 | CP, Headlines, NS
(Source: Bloomberg, December 14, 2015) NEW YORK — While Canadian Pacific Railway Ltd. has a little room to restructure its offer for Norfolk Southern Corp., a proxy fight appears likely at this point, according to Hunter Harrison, the Canadian carrier’s chief...
December 14, 2015 | CP, Headlines, NS
(Source: Globe and Mail, December 12, 2015) TORONTO — Norfolk Southern Corp. is meeting with investors this week to promote its new operating plan as part of an effort to convince them that it’s doing the right thing in shunning a takeover by Canadian Pacific Railway...
December 14, 2015 | CP, Headlines, NS
(Source: Bloomberg, December 14, 2015) NEW YORK — Hunter Harrison, the chief executive officer of Canadian Pacific Railway Ltd., said there is a limited amount of room for the company to adjust its offer for Norfolk Southern Corp. and that the parties need to sit down...
December 11, 2015 | CP, Headlines
(Source: Globe and Mail, December 10, 2015) TORONTO — An arbitrator’s ruling has halted Canadian Pacific Railway Ltd.’s use of U.S. crews to operate trains that cross the border into Canada. The ruling, which followed a grievance filed by the Teamsters Canada Rail...
December 11, 2015 | BNSF, CP, Headlines
(Source: Financial Times, December 10, 2015) NEW YORK — North American railroads could face a wave of mergers that are detrimental to customers if regulators approve efforts by Canadian Pacific to take over Norfolk Southern, the executive chairman of the US’s...
