(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 some finger-in-the-air calculations about possible future valuations. Mr. Ackman, the billionaire hedge fund manager who is Canadian Pacific’s biggest shareholder and a director, contributed 23 pages of slides and joined a conference call with analysts.
Full story: New York Times