CP responds to Norfolk Southern

by MM&D Online Staff

CALGARY, Alberta—Canadian Pacific said in a statement: it “is disappointed with Norfolk Southern Corp’s (NS) rejection of its proposal to create an end-to-end North American rail network that would enhance competition and generate significant shareholder value.

CP takes exception to the claims, misdirection and mischaracterization of its offer and the benefits such a combination would provide to customers, shareholders, the industry and the public.”

CP will hold a conference call Tuesday, Dec. 8 to discuss the offer. The railway says it will also address all concerns about timely regulatory approval raised by NS and correct every inaccuracy.

“CP is committed to this transaction and looks forward to engaging with the NS leadership team, its board and its shareholders,” the statement concluded.