Canadian Pacific Railway News Updates

Logistics

Canadian Pacific to Shift Strategy in Bid for Norfolk Southern

Canadian Pacific Railway Ltd., concerned that mounting political pressure may scuttle its proposed stock-and-cash bid for Norfolk Southern Corp., plans to change strategy to sway lawmakers and reverse the momentum.

January 22, 2016
Business

Canadian Pacific Seeks DOJ Review of 'Campaign' Against Norfolk Southern Deal

Canadian Pacific Railway Ltd. asked the U.S. Justice Department to look into a “collective campaign” by large railroads to block its hostile stock-and-cash bid for Norfolk Southern Corp.

January 19, 2016
Business

Shippers, Legislators Skeptical About Bid by Canadian Pacific to Buy Norfolk Southern

More than two dozen shippers and legislators expressed skepticism about the bid from Canadian Pacific Railway Ltd. to acquire Norfolk Southern Corp.

January 18, 2016
Logistics

Norfolk Southern Finds Allies in Spurning Canadian Pacific Takeover Bid

Norfolk Southern Corp. is gaining political and customer support for rejecting Canadian Pacific Railway Ltd.’s takeover bid, which could make it harder for the Canadian company and investor Bill Ackman to wage a proxy fight.

January 11, 2016
GovernmentLogistics

Two House Democrats Urge Rejection of Canadian Pacific Bid for Norfolk Southern

Two senior Democrats in the U.S. House of Representatives urged federal regulators on Jan. 6 to reject any acquisition bid for railroad operator Norfolk Southern Corp. by Canadian Pacific Railway Ltd.

January 7, 2016
Logistics

Norfolk Southern Customers Lobby Regulators Against Canadian Pacific Bid

Industry groups representing major freight customers of Norfolk Southern Corp. have asked the U.S. rail regulator to reject any bid for the railroad by Canadian Pacific Railway Ltd., according to letters viewed by Reuters.

January 4, 2016
Logistics

Norfolk Southern Turns Down Third Acquisition Offer, Calling Canadian Pacific’s Bid ‘Grossly Inadequate’

Canadian Pacific Railway Ltd. is weighing options such as a proxy fight after Norfolk Southern Corp.’s board of directors for the third time rejected an acquisition offer as “grossly inadequate” and unlikely to pass regulatory muster.

January 4, 2016
Logistics

Norfolk Southern Again Rejects Canadian Pacific Acquisition Offer

Norfolk Southern Corp. for the third time rejected an acquisition offer from Canadian Pacific Railway Ltd., saying the latest proposal also was ” grossly inadequate” and “creates substantial regulatory risks and uncertainties that are highly unlikely to be overcome.”

December 23, 2015
Logistics

Canadian Pacific Enhances Offer to Purchase Norfolk Southern

Canadian Pacific Railway Ltd. enhanced its offer to acquire Norfolk Southern Corp. by at least 10% and signaled a proxy fight for the U.S. carrier would start in February if there are no talks beforehand.

December 16, 2015
GovernmentLogistics

Canadian Pacific-Norfolk Southern Bid Raises Lawmakers' Concern

Canadian Pacific Railway Ltd.’s bid to merge with Norfolk Southern Corp. has raised concerns among Democratic lawmakers from Illinois, who sent a letter to regulators urging them to consider potential negative impacts on the Chicago rail hub.

December 16, 2015