Two House Democrats Urge Rejection of Canadian Pacific Bid for Norfolk Southern
Two senior Democrats in the U.S. House of Representatives urged federal regulators on Jan. 6 to reject any acquisition bid for railroad operator Norfolk Southern Corp. by Canadian Pacific Railway Ltd.
January 7, 2016Norfolk Southern Customers Lobby Regulators Against Canadian Pacific Bid
Industry groups representing major freight customers of Norfolk Southern Corp. have asked the U.S. rail regulator to reject any bid for the railroad by Canadian Pacific Railway Ltd., according to letters viewed by Reuters.
January 4, 2016Norfolk Southern Turns Down Third Acquisition Offer, Calling Canadian Pacific’s Bid ‘Grossly Inadequate’
Canadian Pacific Railway Ltd. is weighing options such as a proxy fight after Norfolk Southern Corp.’s board of directors for the third time rejected an acquisition offer as “grossly inadequate” and unlikely to pass regulatory muster.
January 4, 2016Norfolk Southern Again Rejects Canadian Pacific Acquisition Offer
Norfolk Southern Corp. for the third time rejected an acquisition offer from Canadian Pacific Railway Ltd., saying the latest proposal also was ” grossly inadequate” and “creates substantial regulatory risks and uncertainties that are highly unlikely to be overcome.”
December 23, 2015Canadian Pacific Enhances Offer to Purchase Norfolk Southern
Canadian Pacific Railway Ltd. enhanced its offer to acquire Norfolk Southern Corp. by at least 10% and signaled a proxy fight for the U.S. carrier would start in February if there are no talks beforehand.
December 16, 2015Canadian Pacific-Norfolk Southern Bid Raises Lawmakers' Concern
Canadian Pacific Railway Ltd.’s bid to merge with Norfolk Southern Corp. has raised concerns among Democratic lawmakers from Illinois, who sent a letter to regulators urging them to consider potential negative impacts on the Chicago rail hub.
December 16, 2015Canadian Pacific Signals Proxy Fight
The stage is set for a proxy battle between Canadian Pacific Railway Ltd. and Norfolk Southern Corp. after the Canadian company’s $28 billion acquisition bid was again rejected last week by the U.S. company, according to Canadian Pacific’s own signals and analysts’ comments.
December 14, 2015Canadian Pacific Revises Merger Offer; Norfolk Southern Rejects It Again
Canadian Pacific Railway revised its $28 billion offer to buy Norfolk Southern, offering the U.S. railway's shareholders a greater percentage of ownership and vowing to reduce their risk of losing money due to regulatory review, but the acquisition proposal once again was rejected.
December 8, 2015Canadian Pacific Presses for Deal; Target Norfolk Southern Is Mum
Two weeks after Canadian Pacific Railway Ltd. proposed a $28 billion combination with Norfolk Southern Corp., the prospective buyer continues to campaign for a deal, but there was no sign last week that one would materialize.
December 7, 2015Canadian Pacific Makes $28.1 Billion Offer for Norfolk Southern in Consolidation Move
Canadian Pacific Railway Ltd. last week presented Norfolk Southern Corp. with an acquisition offer worth at least $28.1 billion, rekindling the fires of rail consolidation that have been dormant since 1999.
November 23, 2015