May 28, 2016

CP to eliminate more jobs in 2016

The Calgary Herald reported that Canadian Pacific Railway may eliminate more jobs in 2016 than originally announced; possibly as many as 1,400 positions. Read the entire story here.

Minn. SLD Qualy, “CP fatalities preventable”

Fox 9 reports that a fatality that occurred last week during a crew change on Canadian Pacific may have been preventable. In an interview with the news channel, Minnesota State Legislative Director Phil Qualy said that CP could have taken action to move the crew changes to a safer area, but took no action. Qualy […]

CP train strikes tanker truck in Callaway, Minn., crew injured and town evacuated

Inforum.com reported that a Canadian Pacific train struck a tanker truck carrying propane in Callaway, Minn. Read the entire story here.

NS profits fall, 2,000 jobs to be cut

WSLS.com reported that Norfolk Southern plans to cut 2,000 jobs in response to its fourth quarter profits sliding 29 percent amidst its attempts to ward off a takeover bid from Canadian Pacific.  Read the entire article here.

Freight cars derail in Minn.

News8000.com reported this morning that six mixed-freight cars of a Canadian Pacific train derailed last night near Reno, Minn.  No injuries were reported.  Click here to read the entire article.

Fatigue at CP threatens rail safety

The CBC News reported that Transport Canada recently ordered Canadian Pacific Railway to change its fatigue-management practices and freight train line-ups in British Columbia since they pose “an immediate threat to safe railway operations.”  Read the entire article here.

CP anticipates proxy fight with NS

The Globe and Mail reported that a proxy fight is likely between Canadian Pacific and Norfolk Southern. In a recent regulatory filing, NS said that the premium offered by CP in its proposal was too small and the merger and the voting trust proposed would not be approved by regulators. Read the complete article here.

Latest CP takeover offer rejected by NS

OMAHA, Neb. (AP)—U.S. News & World Report reported today that Norfolk Southern (NS) denied Canadian Pacific’s (CP) takeover offer, but it appears that CP persists, as they are reportedly set to bring their proposal to NS stakeholders. Read the entire article at  U.S. News & World Report Dec. 8.

NS board rejects offer from CP

Norfolk Southern (NYSE: NSC) announced that its board of directors has unanimously rejected Canadian Pacific’s (NYSE:CP) previously announced unsolicited, low-premium, non-binding, highly conditional indication of interest to acquire the Company for $46.72 in cash and a fixed exchange ratio of 0.348 shares in a new company that would own Canadian Pacific and Norfolk Southern. After a […]

Canadian Pacific explores take over of NS

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. The shares surged on the news. Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, […]