Canadian Pacific abandons $28bn bid for Norfolk Southern

NS train2

By Gavin van Marle

11/04/2016

So that’s the end of that one – what an almighty waste of time. Ahead of the expected rejection by US regulators of structure of a proposed Canadian Pacific-Norfolk Southern “voting trust”, the Canadian railroad’s charismatic chief executive Hunter Harrison has ditched attempts to buy its US counterpart. The news probably comes as a huge relief to Norfolk Southern’s management, which had found itself the object of sustained criticism from CP management and investors.

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Topics

Antitrust Investigations Canadian Pacific Merger Mania Norfolk Southern competition Evergreen HMM Korea Fair Trade Commission (KFTC) Maersk SM Lines Yang Ming

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