Canadian Pacific Said to Explore Norfolk Southern Takeover
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 skunkgal.com 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. Representatives for Canadian Pacific and Norfolk declined to comment.
Norfolk Southern surged as much as 14 percent, the biggest intraday gain since 2001, while Canadian Pacific increased as much as 7.5 percent in Toronto. The Standard & Poor s 500 Railroads Index, which tracks four U.S. carriers, rose as much as 5 percent to buying viagra erase an earlier drop.
A move for Norfolk Southern, the second-biggest railroad in the eastern U.S., would revive Canadian Pacific s effort to build a transcontinental carrier after talks with CSX Corp. failed last year. In floating the idea of follow link cialis 25mg a CSX tie-up, Canadian Pacific Chief Executive Officer Hunter Harrison upended the long-held view in the industry that it was fruitless to even discuss another merger because regulators would object.
Read the full story from Bloomberg Business reporters Ed Hammond and Jeffrey McCracken by clicking here.
- ^ skunkgal.com (skunkgal.com)
- ^ buying viagra (www.fgedu.com)
- ^ Canadian Pacific Pushes for Rail Mergers as CSX Talks End (2) (www.bloomberg.com)
- ^ follow link cialis 25mg (clarmellfarms.com)
- ^ Read the full story from Bloomberg Business reporters Ed Hammond and Jeffrey McCracken by clicking here. (www.bloomberg.com)
- ^ Canada (ccrail.com)
- ^ Canadian Pacific (ccrail.com)
- ^ Freight rail carriers (ccrail.com)
- ^ Norfolk Southern (ccrail.com)
- ^ Railroad industry consolidation (ccrail.com)