Canadian Pacific Railway CEO E. Hunter Harrison said Wednesday he will abandon a proposed takeover of Norfolk Southern Railway if shareholders at the Virginia railroad fail to pressure their board to sit down at the negotiating table with their Canadian counterparts.
09 Feb 2016
Canadian Pacific Railway said Tuesday it plans to submit a resolution asking Norfolk Southern Railway shareholders request their board of directors engage in “good faith discussions” with CP regarding its proposed merger, the newest approach after the Calgary-based company has been rebuffed three times.
21 Jan 2016
Sluggish economic conditions derailed Canadian Pacific Railway’s domestic intermodal success, pulling down traffic 9 percent and contributing to a 29 percent profit decline.
19 Jan 2016
Canadian Pacific Railway has asked the U.S. Department of Justice to investigate a “collective campaign” spearheaded by other major railroads to block its increasingly hostile stock-and-cash bid for Norfolk Southern Railway.
14 Jan 2016
Canadian Pacific and Norfolk Southern railway would have to convince U.S. rail regulators that a potential merger won’t set off a wave of Class I consolidation in order to get the greenlight, U.S. Surface Transportation Board Chairman Daniel Elliott said Thursday.
11 Jan 2016
Shippers, lawmakers and other railroads are already petitioning federal regulators to reject the proposed tie-up of Canadian Pacific Railway and Norfolk Southern Railway even though the former has yet to file any legal notice with U.S. rail regulators.
21 Dec 2015
Canadian Pacific Railway said its acquisition of Norfolk Southern Railway would improve fluidity through Chicago, but doubts remain whether a tie would do much to free up bottlenecks at the top U.S. freight hub — even if the deal gives CP control of a key belt railroad in the area.
18 Dec 2015
Canadian Pacific Railway’s increasingly aggressive attempt to acquire Norfolk Southern Railway will have a regulatory smoother ride in Canada than in the U.S. — if NS shareholders jump on board with the plan.
17 Dec 2015
Canadian Pacific Railway’s attempt to takeover Norfolk Southern Railway has already raised alarm with a group of Illinois lawmakers and prompted a pointed response from the Canadian railroad.
16 Dec 2015
A proxy war has been all but declared, analysts say, after Canadian Pacific Railway announced Wednesday it had upped its hostile bid for Norfolk Southern Railway by some $3.4 billion.
21 Jul 2015
Canadian Pacific Railway’s domestic intermodal push appears to be losing steam after the railroad's volume growth decelerated to slowest pace in nearly a year.