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CP voices support for expanding LVVR
Canadian Pacific announced August 25 that it welcomes the release of the full proceedings from the Transportation Safety Board's (TSB) recent Transportation Safety Summit and urges government officials to take…
CP: Ackman cashes out
Pershing Square Capital Management L.P. principal Bill Ackman has sold all his shares in Canadian Pacific, walking away with a cool $1.5 billion.
For CP, a tough second quarter
The second quarter of 2016 was not kind to Canadian Pacific, though in line with CP’s quarterly outlook, released in June.
Hunter Harrison: Disrupting the status quo
National Transportation Policy mandates that railroads be managed efficiently. While railroad performance is reflective of improvement, some railroads excel, with the reasons increasingly under digital scrutiny by activist money managers…
CN, CP assisting in wildfire relief efforts
CN and the Canadian Pacific announced on May 5, 2016 that they are contributing a minimum of C$150,000, combined, to help people affected by the devastating wildfires that have swept…
The Thoroughbred that got away
Cover story from the May 2016 issue of Railway Age: Norfolk Southern has been looking over its shoulder for almost a year. Now, it can focus its attention ahead.
TSX accepts CP’s previously announced share repurchase program
Canadian Pacific Railway Limited announced on April 28, 2016 that the Toronto Stock Exchange (TSX) has accepted its notice to implement a normal course issuer bid (NCIB) to purchase, for…
CP: Record Q1 results, and a share repurchase
Despite a 4% drop in revenues, Canadian Pacific Railway Ltd. posted its lowest-ever first-quarter operating ratio of 58.9% and reported diluted earnings per share of $3.51, or $2.50 on an…
AAR names environmental award recipients
The Association of American Railroads on April 12, 2016 presented Michael Hoey, a CSX Transportation civil engineer from Philadelphia, Pa., the 2016 John H. Chafee Environmental Excellence Award. U.S. Senator…
See ya later, what’s-your-name
Well, it’s all over but the ruminating and regurgitating: Hedge fund king Bill Ackman had his blinders ripped off, read the handwriting on the wall, and wisely deep-sixed his attempt…
CP, Ackman call it quits
On Monday, April 11, 2016, Canadian Pacific Railway Ltd. terminated its efforts to merge with Norfolk Southern Corp.. This includes “withdrawal of a resolution asking NS shareholders to vote in…
DOJ, DOD oppose CP-NS combination
The Surface Transportation Board, in seeking comments addressing Canadian Pacific’s petition for an expedited declaratory order, has received letters from the U.S. Department of Justice and the Department of Defense-United…
Shuster opposes proposed CP-NS merger
Chairman of the U.S. House Transportation and Infrastructure Committee Bill Shuster (R-Pa.) on April 5, 2016 announced his opposition to Canadian Pacific Railway’s proposed merger with Norfolk Southern.
CP files definitive proxy statement for NS shareholder resolution
Canadian Pacific on March 29, 2016 filed its definitive proxy statement for its Norfolk Southern Corp. (NS) shareholder resolution asking NS’ Board of Directors to engage in good faith discussions…
CP+NS: STB declaratory order proceedings under way
On March 10, 2016, the Surface Transportation Board issued a decision, Docket No. FD 36004, “Canadian Pacific Railway Limited—Petition for Expedited Declaratory Order,” responding to CP’s March 2 petition, and…
CP to NS: “Promptly engage in good faith discussions”
Canadian Pacific on March 9, 2016 filed a preliminary proxy statement with the Securities and Exchange Commission (SEC) that outlines the shareholder resolution to be considered at the upcoming Annual…
CP, City of Vancouver agree to sale of Arbutus Corridor
Canadian Pacific and the City of Vancouver on March 7, 2016 jointly announced that they have agreed to terms for the sale by CP of the Arbutus Corridor to the…
CP+NS and the Humpty Dumpty effect
The chasing by suitor Canadian Pacific of grand dame Norfolk Southern has reintroduced to the railroad chattering classes the nebulous term “public interest,” used often and broadly when mergers and…
CP will seek STB declaratory order
Canadian Pacific on Tuesday, Feb. 16, 2016 announced it will seek a declaratory order from the U.S. Surface Transportation Board (STB) “confirming the viability of the voting trust structure that…
Canadian Pacific on Thursday, Feb. 11, 2016 launched a new website, CPconsolidation.com, purporting the benefits of its proposed acquisition of Norfolk Southern. The website launch came two days after CP…
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