November 19, 2015 | CP, Headlines, NS
(Source: Reuters, November 18, 2015) NEW YORK — Canadian Pacific Railway Ltd. said its proposed $28.4 billion acquisition of U.S. railroad operator Norfolk Southern Corp. would help the combined company to save at least $1.8 billion annually. Full story:...
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 | 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 | Headlines, NS, Operation Lifesaver
(Source: Columbus Dispatch editorial, November 12, 2015) COLUMBUS, Ohio — A plan to replace yield signs with stop signs at 1,000 railroad crossings across the state appears to be a reasonable effort to improve safety. By requiring drivers to stop, chances are...
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, NS
(Source: Globe and Mail, November 11, 2015) TORONTO — Canadian Pacific Railway Ltd.’s reported plan to create the largest railway in North America with an offer for Norfolk Southern Corp. would face a lengthy review process that could pit the company against shippers...
