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 | BNSF, Headlines, NS
(Source: Trains Magazine, December 10, 2015) NEW YORK — The executive chairman of BNSF Railway is fond of saying that railroad mergers don’t occur in a vacuum. Do one, says Matt Rose, and there will be another. “They always go in pairs,” he said today. With hints like...
December 10, 2015 | CP, Headlines, NS
(Source: New York Times, December 8, 2015) NEW YORK — William A. Ackman’s convoluted North American rail merger is a tough sell. Canadian Pacific revised its offer for the American railway operator Norfolk Southern on Tuesday to include an interim trust structure and...
December 10, 2015 | CP, Headlines, NS
(Source: Reuters, December 9, 2015) BOSTON — Billionaire investor William Ackman is playing an outsized role in railway Canadian Pacific’s plan to buy rival Norfolk Southern, underscoring his efforts to bring home a deal to salvage an otherwise awful 2015 for...
