On Monday, December 16, 2015, CP amended its offer to acquire Norfolk Southern (NS) by including 0.451 of a contingent value right (CVR) for NS shareholders that would be contingent on the share price of the combined entity of CP and NS (CP+NS). These CVRs would have a maximum value of US$3.4 billion to current NS shareholders. The CVR basically works as an insurance policy for NS shareholders in the case that the CP+NS trades below US$175, NS shareholders would receive a higher CVR value to a l ....
16 Dec 2015
CANADIAN PACIFIC RAILWAY LIMITED (CP) REVISES NORFOLK SOUTHERN OFFER
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CANADIAN PACIFIC RAILWAY LIMITED (CP) REVISES NORFOLK SOUTHERN OFFER
Canadian Pacific Kansas City Limited (CP:TSE) | 0 0 1.0% | Mkt Cap: 33,360m
- Published:
16 Dec 2015 -
Author:
Steven I. Paget -
Pages:
4
On Monday, December 16, 2015, CP amended its offer to acquire Norfolk Southern (NS) by including 0.451 of a contingent value right (CVR) for NS shareholders that would be contingent on the share price of the combined entity of CP and NS (CP+NS). These CVRs would have a maximum value of US$3.4 billion to current NS shareholders. The CVR basically works as an insurance policy for NS shareholders in the case that the CP+NS trades below US$175, NS shareholders would receive a higher CVR value to a l ....