• CP to make an offer for NS...

  • Discussion relating to the past and present operations of CPR. Official web site can be found here: CPR.CA.
Discussion relating to the past and present operations of CPR. Official web site can be found here: CPR.CA.

Moderators: Komachi, Ken V

  by wintower
 
I was watching the Nightly Business Report (NBR) this evening here in NYC and I heard that CP was going to make an offer for NS. Did I hear correctly, any details?
  by Ken V
 
Discussion of this topic is now moved to the Norfolk Southern forum: viewtopic.php?f=117&t=161038" onclick="window.open(this.href);return false;
  by DutchRailnut
 
FOR IMMEDIATE RELEASE
NORFOLK SOUTHERN BOARD OF DIRECTORS UNANIMOUSLY REJECTS
UNSOLICITED INDICATION OF INTEREST FROM CANADIAN PACIFIC
Canadian Pacific’s Indication of Interest Is Grossly Inadequate and
Not in the Best Interests of Norfolk Southern and Its Shareholders

Transaction Would Face Substantial Regulatory Risks and Uncertainties
Highly Unlikely to Be Overcome
Norfolk Southern Confident That Its Strategic
Plan Will Deliver Compelling Shareholder Value
Company to Host Conference Call at 8:30 am ET Today

An excerpt from the article:

Mr. Squires concluded, “We believe that Canadian Pacific’s short-term,
cut-to-the-bone strategy could cause Norfolk Southern to lose
substantial revenues from our service-sensitive customer base. We also
believe the proposed transaction risks harm to vital transportation
infrastructure and the communities we serve. Any strategy that hurts
our customers and the broader community is highly unlikely to receive
regulatory approval and is inconsistent with the delivery of
shareholder value over the long-term.”