Canadian Pacific tells DoJ competitors trying to block Norfolk Southern deal

SwaffordOGR Forum Member

Canadian Pacific Railway (NYSE:CP) files a complaint with the U.S. Department of Justice alleging some of its competitors have worked together to block its attempt to merge with Norfolk Southern (NYSE:NSC).

"The fact that these major railroads have joined to work so feverishly against CP’s proposal speaks volumes about their concerns regarding the impact the transaction would have on their competitive positions,” CP says in its letter to the DoJ.

Union Pacific (NYSE:UNP), for one, disputes the allegation, saying “We have communicated with other railroads for the purpose of petitioning the government. We oppose this merger, and we are prepared to discuss our views with the government."

http://www.reuters.com/article...m-a-cp-idUSKCN0UX20U

1/19/166:11 PM

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PRR ManOGR Forum Member

and the charade continues....

1/19/166:13 PM

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Bob DelbridgeOGR Forum Member

I can't believe other competitors hold that much influence over NS stock holders, they're a wiser bunch than that.

Here's a thought...maybe the NS stockholders simply don't want to be bought out.

1/19/166:17 PM

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Dominic MazochOGR Forum Member

Or CP does not know the word "NO"!

And this comes on the heels of Canada's TSB issues with crew rest on CP. A vote for presidential electors in this country The US has this concept called "Freedom of Speech".

What is in CP's KoolAid? Judge Judy has a ruling: STUPID!

1/20/168:02 AM

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juniata guyOGR Forum Member SUPPORTING MEMBERDIGITAL SUBSCRIBER

Update on CP's proposed merger with NS. On their earnings call with Wall Street, CP gave some indications they may be considering abandoning the proposed merger - for now. Apparently the number of forces lining up in opposition has finally grabbed someone's attention.

Curt

1/22/169:45 AM

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Canadian Pacific tells DoJ competitors trying to block Norfolk Southern deal

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