December 23, 2015 | Headlines, NS
(Source: Norfolk Southern press release, December 22, 2015) NORFOLK, Va. — Norfolk Southern announced on December 22 that it will consolidate operations of its coal docks located on Lake Erie in Northern Ohio. This change will streamline operations for customers while...
December 23, 2015 | CP, Headlines, NS
(Source: Register-Herald, December 23, 2015) BECKLEY, W.Va. — Battles in two boardrooms, one in Canada, the other in Virginia, could directly affect the little town of Elmore in Wyoming County. Norfolk Southern Corp. board members are fighting a third takeover bid...
December 23, 2015 | CP, Headlines, NS
(Source: Norfolk Southern press release, December 23, 2015) NORFOLK, Va. — Norfolk Southern Corporation (“the Company”) today announced that its board of directors has unanimously rejected Canadian Pacific’s Dec. 16, 2015, publicly disclosed, revised proposal to...
December 22, 2015 | CP, Headlines, NS
(Source: Canadian Press, December 21, 2015) OMAHA, Neb. — Rating agency Moody’s says Canadian Pacific and Norfolk Southern could face credit downgrades if the two railroads move forward with a proposed merger. Moody’s said Monday that it hasn’t...
December 21, 2015 | Headlines, NS
(Source: Albany Times Union, December 18, 2015) ALBANY, N.Y. — Norfolk Southern has been working on the former Delaware & Hudson line from Albany to Sunbury, Pa., that it purchased earlier this year from Canadian Pacific Railway. That’s according to a story in...
December 21, 2015 | CP, Headlines, NS
(Source: CP Rail press release, December 17, 2015) CALGARY, Alberta — Canadian Pacific announced it has sent a response to those members of the Illinois delegation who signed a letter to the Surface Transportation Board (STB) dated December 14, 2015. Below is the full...
December 21, 2015 | CP, Headlines, NS
(Source: Financial Post, December 18, 2015) OTTAWA — Canadian Pacific Railway Ltd.’s takeover bid for Norfolk Southern Corp. rests on the assumption that CEO Hunter Harrison is a railroading Midas who turns everything he touches into gold. But as the ancient myth...
December 21, 2015 | CP, Headlines, NS
(Source: New York Times, December 20, 2015) NEW YORK — When it comes to railroad consolidation, most opponents hark back to the mid-1990s, when a series of mergers at the time were blamed for lost cargo, derailments, death and billions of dollars lost by businesses...
December 18, 2015 | CP, Headlines, NS
(Source: Railway Age, December 17, 2015) NEW YORK — According to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, “The addition of a contingent value right (CVR) is Canadian Pacific’s way of providing Norfolk Southern...
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...
