CSX Corp. shareholders are likely to approve turnaround veteran Hunter Harrison’s demand for a $300 million pay package that the railroad derided as “exceptionally unusual,” according to analysts.

Canadian Pacific Railway Ltd., concerned that mounting political pressure may scuttle its proposed stock-and-cash bid for Norfolk Southern Corp., plans to change strategy to sway lawmakers and reverse the momentum.

Canadian Pacific Railway reported third-quarter profit that topped analysts’ estimates, buoyed by a weaker currency and expense reductions that included parking locomotives.