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CP: Proposed merger would "alleviate" Chicago congestion
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…
CP-NS: Government advocacy is protected speech
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…
CP cries "antitrust!" to USDOJ
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…
Jason Seidl: Notable changes at NS; recession fears grip CSX shares
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…
UP: We don’t need another merger. CP: Really?
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…
Norfolk Southern slimming down a bit
Most likely to assist in heading off Canadian Pacific’s next move toward an acquisition, Norfolk Southern announced on Jan. 12, 2016 that it is consolidating two of its divisions and…
Leaked letters to STB indicate shipper concerns over CP+NS
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…
Jason Seidl: Guess who came to dinner
Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl reports on a recent dinner conversation with “a large private shipper” that focused on the proposed…
NS says "no" for the third time; CP "will review strategic alternatives"
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…
Harrison to Durbin, et al: “There appear to be some misconceptions”
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…
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