Moderator: Jeff Smith
Canadian Pacific Railway Ltd., the second-biggest railroad in Canada, is exploring a takeover of U.S. carrier Norfolk Southern Corp. in a fresh attempt to consolidate the North American industry, according to people familiar with the matter.
Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, which is valued at about $24 billion, said two of the people, who asked not to be identified because deliberations are private. Discussions are preliminary and talks may not progress or lead to a deal, they said.
Shares in Norfolk Southern rose as much as 13 percent in New York after trading was temporarily halted, the biggest intraday gain since 2001. Canadian Pacific increased as much as 7.2 percent in Toronto.
Backshophoss wrote:Figure on various oversight committees taking a close look at the proposed merger,from the STB on down.Or like BNSF+CN.
Might include some "anti-trust" people as well,from both sides of the border.
This could "flame out" like SP+SF did.