Canadian Pacific

In what some industry observers believe may be a final attempt—short of a proxy battle—by hedge fund head Bill Ackman at a hostile takeover of Norfolk Southern, Canadian Pacific on…
Continuing its hostile pursuit of Norfolk Southern, and faced with some stiff political and rail industry opposition in the U.S., Canadian Pacific on Feb. 3, 2016 released a white paper,…
Norfolk Southern shareholders “continue to find themselves in the enviable position of having two Class I management teams competing to maximize shareholder value,” says Cowen and Company Managing Director and…
Canadian Pacific’s fourth-quarter and full-year 2015 financial results were slightly below analyst expectations yet “still solid given the macro challenges,” according to Cowen and Company Managing Director and Railway Age…
Amid a North-American-wide slump in traffic volume, falling prices for railroad-transported commodities like coal and oil, and an economy that appears to be increasingly unstable, Canadian Pacific, the second publicly…
Following a letter submitted to the U.S. Department of Justice in which Canadian Pacific accused several Class I railroads of joining forces to put a stop to its pursuit of…
News item: Canadian Pacific (CP) is pursuing a hostile takeover of Norfolk Southern (NS). CP is asking the U.S. Justice Department to investigate whether NS and other U.S.-based major railroads—some…
In the latest twist in the ongoing saga of Canadian Pacific’s increasingly hostile pursuit of a steadfast Norfolk Southern as a takeover target, CP is accusing several unnamed Class I…
Norfolk Southern’s Jan. 12, 2015 announcement about consolidating its Pocahontas and Virginia divisions “is notable,” and CSX is facing “continued industrial challenges,” according to Cowen and Company Managing Director and…
In remarks at the Midwest Association of Rail Shippers annual meeting on Jan. 13, 2015, Lance M. Fritz, President and CEO of Union Pacific, while declining to comment specifically on…
Following a period of relative quiet over the Christmas holiday, Canadian Pacific’s endeavor to acquire Norfolk Southern has picked up steam with issuance of a white paper, “A 21st Century…
Reuters, which originally broke the story late last year about Canadian Pacific’s targeting of Norfolk Southern for acquisition before CP officially announced it, has published excerpts of several letters to…
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…
Santa Claus doesn’t rest on Christmas Eve. Neither, apparently, does Canadian Pacific. Santa does rest on Christmas Day, but the Class I railroad whose headquarters is, of all its contemporaries…
As Canadian Pacific continues to pursue a merger with Norfolk Southern, CP CEO Hunter Harrison sent a response to the members of the Illinois Congressional delegation (all Democrats) who sent…
According to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, “The addition of a contingent value right (CVR) is Canadian Pacific’s way of providing…
Rail industry cogitation focuses so far on Canadian Pacific's (CP) prospects for securing Surface Transportation Board (STB) approval for its—at first friendly and now increasingly hostile—attempt to take over Norfolk…
The rail industry and its many observers have been absorbed by the Canadian Pacific Railway’s pursuit of Norfolk Southern. Without recounting the entire story, the whole scenario (minus the regulatory…
Canadian Pacific (CP) on Dec. 16, 2015 announced a “revised, enhanced offer” in its bid to acquire Norfolk Southern (NS). The revised offer consists of, for each NS share, U.S.$32.86,…
December 7, 2015: A day that will live in infamy for anyone attempting to follow the volley of legalese and rhetoric being tossed about by Canadian Pacific and Norfolk Southern…
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