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(NSCorp.com)
Crops, Machinery, Reuters

CP revises hostile bid for Norfolk Southern, again

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Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more
(NSCorp.com)
Crops, Machinery, Reuters

Norfolk Southern rejects CP’s revised offer

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Reuters — U.S. railroad operator Norfolk Southern has formally rejected a revised offer from Canadian Pacific Railway (CP), raising the prospect of a proxy battle. CP shareholder Bill Ackman said last week that CP CEO Hunter Harrison and he have both been sounded out by activists interested in a proxy fight with Norfolk Southern. Ackman […] Read more
(NSCorp.com)
Crops, Machinery, Reuters

U.S. railway Norfolk Southern rejects CP offer

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Reuters — U.S. railroad operator Norfolk Southern said Friday its board had rejected Canadian Pacific Railway’s US$28.4 billion offer, calling it “grossly inadequate” and could face substantial regulatory hurdles. A struggling coal transportation market, suppressed by weak market demand and global oversupply, has weighed on the earnings of Norfolk, making it more vulnerable as a […] Read more
(NSCorp.com)
Crops, Machinery

Running rights on table in CP bid for Norfolk Southern

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Canadian Pacific Railway (CP) says it hopes to unclog one of the most infamous rail traffic bottlenecks in the U.S. with a bid to buy railway Norfolk Southern. Confirming a recent news report on its plans, CP announced Tuesday it has sent an offer letter to Virginia-based NS. The Calgary company didn’t disclose any financial […] Read more
(NSCorp.com)
Crops, Machinery, Reuters

CP said exploring Norfolk Southern takeover

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Reuters — Canadian Pacific Railway (CP) is looking to acquire U.S. peer Norfolk Southern, business news service Bloomberg reported Monday, citing people familiar with the matter. Canada’s second-largest railroad operator has already raised financing and held early-stage merger talks with Norfolk Southern, Bloomberg reported, citing two of the people. Freight carried by major U.S. railroads […] Read more

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