Canadian Pacific Railway Limited (TSX:CP)(NYSE:CP) must really see something special in Norfolk Southern Corp. (NYSE:NSC). Canadian Pacific has made multiple approaches to take over Norfolk in the past few months, all of which have been rejected.
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 executive officer.
4 U.S. railroad Norfolk Southern Corp have joined a growing chorus of opposition to an unsolicited bid from Canadian Pacific Railway Ltd, one in an unpublished letter sent to the U.S. rail regulator and the other in an interview with Reuters. The moves ...
Both Canadian Pacific Railway Limited (TSX:CP)(NYSE:CP) and Canadian National Railway Company (TSX:CNR)(NYSE:CNI) surged after the Great Recession, but 2015 has been a tough year for the two companies.
The outspoken CEO of Canadian Pacific Railway Ltd. has said that weakness in the rail industry could be the spark that sets off a new round of consolidation - something he's been advocating for years, albeit unsuccessfully.
Canadian Pacific Railway Ltd. has again revised its offer for Norfolk Southern Corp., adding in a measure designed to protect shareholders while strongly hinting that a hostile bid is just around the corner.