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Norfolk Southern rejects Canadian Pacific's merger proposal
2015-12-04 15:03:10| Railroads - Topix.net
This Oct. 23, 2014 file photo shows a Norfolk Southern locomotive on Chicago's south side. Norfolk Southern has rejected Canadian Pacific's proposal to combine the two railroads.
Tags: southern
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Norfolk Southern Rejects Canadian Pacific's Merger Proposal
2015-12-04 13:58:19| Railroads - Topix.net
Norfolk Southern Corp. said Friday that its board determined the proposal was "grossly inadequate, creates substantial regulatory risks and uncertainties that are highly unlikely to be overcome and is not in the best interest of the company and its shareholders."
Tags: southern
canadian
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Norfolk Southern rejects Canadian Pacific's 'grossly inadequate' buyout bid
2015-12-04 13:58:18| Railroads - Topix.net
The railroad company said on Nov. 17 that it received a buyout bid, in which Norfolk shareholders would received $46.72 in cash and 0.348 shares in a new company that would own the new combined company, for each Norfolk share they own. At the time, that worked out to about a 10% premium.
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Norfolk Southern Corp. Price Target Increased to $97.00 by Analysts at Topeka Capital Markets
2015-11-26 11:00:26| Railroads - Topix.net
The brokerage presently has a "hold" rating on the railroad operator's stock. Topeka Capital Markets' target price points to a potential upside of 0.99% from the stock's previous close.
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Norfolk Southern Receives Offer From Canadian Pacific
2015-11-26 06:46:23| Railroads - Topix.net
Norfolk and Canadian Pacific will be able to deliver unsurpassed levels of safety and service to their customers after they merge Norfolk Southern Corp. completed the acquisition of the Delaware & Hudson Railway line, a subsidiary of Canadian Pacific. , in September, and Canadian Pacific recently offered to buy Norfolk for $28.4 billion on a 50% cash and 50% stock transaction.
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