Norfolk 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, 2016Megaship Docks in L.A. as Change Roils Shipping Industry
The largest containership ever to arrive at a North American port is docked at the southern tip of Los Angeles, a sign of the rapid changes under way in the global shipping industry.
December 30, 2015NFI Starts Dedicated Fleet in Florida Using CNG
Supply chain services provider NFI Industries announced that it launched a natural gas-fueled dedicated fleet in central Florida to serve a national home improvement retailer in the region.
December 28, 2015Norfolk 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, 2015AASHTO Sets Roadside Safety Device Installation Schedule
The American Association of State Highway and Transportation Officials announced its approval on Dec. 22 of a schedule for implementing the use of such roadside safety hardware devices as guardrails and crash cushions on the National Highway System that meet new crash-testing standards.
December 22, 2015November Trailer Orders Third Highest in History, FTR Reports
Net U.S. trailer orders in November exceeded expectations for the second consecutive month, rising to the third-highest monthly total on record, research firm FTR reported.
December 21, 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, 2015Largest Container Ship Ever to Visit United States Arriving Dec. 26
The largest containership to ever call at a U.S. port will arrive Dec. 26 at the Port of Los Angeles and Dec. 31 at the Port of Oakland, California.
December 15, 2015Shipping Index Plunges to Fresh Record Amid China Steel Slump
The shipping industry’s most-watched measure of rates for hauling commodities plunged to a fresh record amid a persisting glut of ships and speculation weakening Chinese steel output could translate into declining imports of iron ore to make the alloy.
December 15, 2015