(Source: Canadian Press, December 8, 2015)
MONTREAL — Canadian Pacific Railway has dropped the gloves in its battle to acquire Norfolk Southern after the U.S. railway immediately rejected a revised takeover offer. The Calgary-based company enlisted the help of activist U.S. investor Bill Ackman to challenge the qualifications of Norfolk Southern CEO James Squires and opened the door to launching a hostile bid if the board of the Virginia company continues to oppose negotiations.
Full story: CTV News