CP is now offering Norfolk Southern (NS, NSC-N, no research coverage) shareholders US$32.86/share in cash plus 0.451 of a share in a
proposed trust that would own both CP and NS, holding both railroads separate until STB approval of a full merger. Unlike the previous CP
proposal that did not pay out cash until the final merger was approved, CP has now offered to pay out the cash on STB approval of the trust
structure (expected in 2Q16). We expect CP to move forward with a formal offer to NS ....
09 Dec 2015
Canadian Pacific (CP) To Offer US$89.74/share For Norfolk Southern; Will Go To Shareholders If Necessary
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Canadian Pacific (CP) To Offer US$89.74/share For Norfolk Southern; Will Go To Shareholders If Necessary
Canadian Pacific Kansas City Limited (CP:TSE) | 0 0 1.0% | Mkt Cap: 33,360m
- Published:
09 Dec 2015 -
Author:
Steven I. Paget -
Pages:
5
CP is now offering Norfolk Southern (NS, NSC-N, no research coverage) shareholders US$32.86/share in cash plus 0.451 of a share in a
proposed trust that would own both CP and NS, holding both railroads separate until STB approval of a full merger. Unlike the previous CP
proposal that did not pay out cash until the final merger was approved, CP has now offered to pay out the cash on STB approval of the trust
structure (expected in 2Q16). We expect CP to move forward with a formal offer to NS ....