U.S. railroad operator Norfolk Southern Corp all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles.
While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, William Ackman’s activist hedge fund Pershing Square Capital Management LP.
Read more from Reuters.
Related News
- Heroic Act on the Rails: SMART-TD Brother Burned while Saving Crewmate
- NRLC Bargaining Chart
- Local Pride T-Shirt Contest Rules
- Where Do You Get Your News? Help SMART-TD Meet You There
- Senate Passes Tax Bill Without Including Railroaders
- Yardmaster Protection Act Introduced
- New College Education Benefit Available for SMART-TD Members and Their Families
- Arkansas & Missouri Begins a New Chapter with SMART-TD
- In Loving Memory of Brother Darryl Redmon
- Update Your SMART Union Mobile App Today!