Norfolk Southern

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…
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…
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…
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…
In response to the proposed merger between Canadian Pacific Railway (CP) and Norfolk Southern Corporation (NS), U.S. Senator Dick Durbin (D-Ill.) on Dec. 14, 2015 sent a letter signed by…
In a Dec. 10, 2015 interview with Bloomberg TV Canada, BNSF Executive Chairman Matt Rose stated that his company has spoken to both eastern Class I railroads about potential merger…
“Take Canadian Pacific (CP) CEO Hunter Harrison out of the equation and CP's offer to Norfolk Southern (NS) and its shareholders would have little chance of getting anywhere, in our…
Canadian Pacific’s pursuit of Norfolk Southern has taken on the tone of a rough-and-tumble yet well-intentioned star athlete pulling out all the stops to capture the heart of his dream…
About 71% of rail shippers surveyed by Cowen and Company do not support a merger between Canadian Pacific (CP) and Norfolk Southern (NS), even though opposition to a Class I…
Refuting practically every purported benefit that Canadian Pacific has given, and citing substantial regulatory risks and uncertainties as well as many other negatives, Norfolk Southern on Dec. 4, 2015 loudly…
Levitation takes two forms among railroads—magnetic levitation relating to futuristic high-speed passenger transport, and stock levitation associated with bidding wars for asset control.
The day after confirming that it had made an offer to Norfolk Southern—and following NS’s tepid response—Canadian Pacific on Nov. 18, 2015 disclosed the contents of the offer letter it…
It’s official: Canadian Pacific on Nov. 17, 2015 sent an offer letter to Norfolk Southern proposing a merger (an acquisition, really) “that would create a transcontinental railroad with the scale…
Few obstacles bedevil railroads as has the Mississippi River. Spanning it was the nation’s first rail bridge in 1856—promptly assaulted by steamboat Effie Afton. While the bridge was repaired and…
Canadian Pacific Railway has held early-stage merger talks with Norfolk Southern and is raising financing for an acquisition, according to Nov. 9, 2015 news reports citing confidential sources at both…
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