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...
December 10, 2015 | CP, Headlines, NS
(Source: Editorial in the Roanoke Times, December 9, 2015) ROANOKE, Va. — In 2005, Bill Ackman’s Pershing Square group bought into the Wendy’s hamburger chain, and forced the board to sell off its Tim Hortons doughnut business, bringing in $670 million for Wendy’s...
December 10, 2015 | CP, Headlines, NS
(Source: Associated Press, December 8, 2015) OMAHA, Neb. — Norfolk Southern rejected Canadian Pacific’s latest takeover offer less than an hour after it was announced Tuesday, but the Canadian railroad now appears ready to take its case directly to the...
December 9, 2015 | CP, Headlines, NS
(Source: Norfolk Southern press release, December 8, 2015) NORFOLK, Va. — Norfolk Southern Corporation (“the Company”) today confirmed that it has received a revised, reduced proposal from Canadian Pacific. Norfolk Southern noted that Canadian...
December 9, 2015 | CP, Headlines, NS
(Source: Bloomberg, December 8, 2015) NEW YORK — Canadian Pacific sure knows how to leave investors wanting more. After an underwhelming bid last month failed to entice Norfolk Southern to entertain a merger, the railroad operator and its No. 1 fan Bill Ackman were...
