(Source: Railway Age, December 23, 2015)
NEW YORK — Norfolk Southern on Dec. 23, 2015 rejected Canadian Pacific’s third and most recent proposal to acquire NS. CP on Dec. 16 offered $32.86 in cash, a fixed exchange ratio of 0.451 shares in a new company that would own Canadian Pacific and Norfolk Southern, and 0.451 of a Contingent Value Right.
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