November 19, 2015 | CP, Headlines, NS
(Source: Associated Press, November 18, 2015) NORFOLK, Va. — Canadian Pacific offered more details and defended its offer to join two of North America’s biggest railroads, but Norfolk Southern offered only a lukewarm response and regulators have expressed...
November 18, 2015 | CN, CP, Headlines
(Source: CBC News, November 16, 2015) WINNIPEG — A working group is set to start as early as next month to plan to move rail lines out of the city of Winnipeg. The group, which will include Canadian Pacific Railway and Canadian National officials, will put together a...
November 18, 2015 | CP, Headlines, National Mediation Board
(Source: Norfolk Southern press release, November 17, 2015) NORFOLK, Va. — Norfolk Southern Corporation (“the Company”) today confirmed that it has received an unsolicited, low-premium, non-binding, highly conditional indication of interest from Canadian Pacific...
November 18, 2015 | CP, Headlines, NS
(Source: Canadian Pacific Railway press release, November 18, 2015) CALGARY, Alberta — Canadian Pacific today disclosed the contents of the offer letter it sent to Norfolk Southern Corp. (NS) on November 17, 2015 to clarify the details of a proposal that would result...
November 18, 2015 | CP, Headlines, NS
(Source: Railway Age, November 17, 2015) NEW YORK — It’s official: Canadian Pacific on Nov. 17, 2015 sent an offer letter to Norfolk Southern proposing a merger (an acquisition, really) “that would create a transcontinental railroad with the scale and reach to deliver...
November 18, 2015 | CP, Headlines, NS
(Source: Bloomberg, November 17, 2015) NEW YORK — Canadian Pacific may want to rethink its definition of sizable. The $21 billion railroad operator said Tuesday that it had approached Norfolk Southern with an offer to buy the company for a “sizable...
November 18, 2015 | CP, Headlines, NS
(Source: Reuters, November 17, 2015) NEW YORK — U.S. railroad operator Norfolk Southern Corp. all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd. on Tuesday, calling it “low-premium” and warning it would face significant...
November 16, 2015 | CP, Headlines, NS
(Source: Financial Times, November 16, 2015) NEW YORK — In October last year, the Canadian Pacific Railway approached CSX about a potential merger. Talks quickly broke down. Then, on November 9, it emerged that CP had made a similar approach to Norfolk Southern in the...
November 16, 2015 | CP, Headlines, NS
(Source: Bloomberg, November 16, 2015) NEW YORK — A railroader for more than five decades, Hunter Harrison is a dealmaker who helped drive the industry’s initial consolidation wave in the 1990s. Now, his Canadian Pacific Railway Ltd. is exploring a takeover of U.S....
November 12, 2015 | CP, Headlines, Oil Train
(Source: Associated Press, November 11, 2015) WATERTOWN, Wisc. — Canadian Pacific Railway says a broken rail caused an oil train derailment in southeastern Wisconsin last weekend. The railroad said Wednesday the defect was not visible to the naked eye. Full story:...
