In a press release after market close on December 4, 2015, CP noted that it remains committed to its proposed merger with Norfolk Southern, despite the target company’s rejection of CP’s offer earlier the same day. We believe that Norfolk Southern’s (NSC-N, no research coverage) rejection of CP’s bid combined with its refusal to meet further on the topic will only lead CP to take its offer directly to shareholders; we believe the team that brought change to CP will look to bring the same change ....
07 Dec 2015
Norfolk Southern Rejects CP Offer; U.S.-Based Engineers and Conductors Accept CP Offer; 4Q15e EPS now $2.72/share
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Norfolk Southern Rejects CP Offer; U.S.-Based Engineers and Conductors Accept CP Offer; 4Q15e EPS now $2.72/share
Canadian Pacific Kansas City Limited (CP:TSE) | 0 0 1.0% | Mkt Cap: 33,360m
- Published:
07 Dec 2015 -
Author:
Steven I. Paget -
Pages:
5
In a press release after market close on December 4, 2015, CP noted that it remains committed to its proposed merger with Norfolk Southern, despite the target company’s rejection of CP’s offer earlier the same day. We believe that Norfolk Southern’s (NSC-N, no research coverage) rejection of CP’s bid combined with its refusal to meet further on the topic will only lead CP to take its offer directly to shareholders; we believe the team that brought change to CP will look to bring the same change ....