Hints and tips:
...Honeywell, the US industrial conglomerate, and Norfolk Southern, the railway group, are among the companies that have also said they expect their tax rates to fall this year, but they will save significantly...
...Norfolk Southern, the second-biggest rail operator in the eastern US by network size that CP also tried to take over last year, also saw its shares advance, up 4.1 per cent to $114.42, while those of Union...
...Canadian Pacific has thrown in the towel on its pursuit of US rival Norfolk Southern after the latter rejected three takeover offers from the Canadian railway operator....
...of Norfolk Southern....
...Mr Ackman’s exit comes three months after the company failed in its attempt to merge with Norfolk Southern in what Mr Ackman had hoped would be one more round of shareholder-friendly consolidation in the...
...Bill Ackman, the activist investor, has laid out plans to put further pressure on Norfolk Southern to consider a merger with Canadian Pacific, as CP announced the latest adjustment to its offer for the US...
...Canadian Pacific, the second-largest railway company in Canada, argued that combining its business with Norfolk Southern would create an end-to-end North American rail network “that would enhance competition...
...Bill Ackman stepped up pressure on Norfolk Southern’s board to reconsider its rejection of Canadian Pacific’s takeover proposal when the activist investor fiercely criticised the US railway’s management....
...“Norfolk Southern is now the outlier,” Mr Hatch says of how the company has suffered compared with others....
...Norfolk Southern on Tuesday criticised an “unsolicited, low-premium, non-binding and highly conditional” potential bid from Canadian Pacific that would value the US’s fourth-biggest railroad network at around...
...Shares in Norfolk Southern dropped 1.13 per cent by the close to $92.06 after the fourth-largest US railway operator rejected a takeover bid from Canadian Pacific, saying the proposal was “grossly inadequate...
...North America has shrunk to seven large regional railroads, with two in most regions (CSX shares the east coast with Norfolk Southern)....
...The S&P 500 railroads index, which consists of CSX, Kansas City Southern, Norfolk Southern and Union Pacific Corp stocks, closed 0.6 per cent lower on the news....
...Hunter Harrison, chief executive of Canadian Pacific, and Wick Moorman, chief executive of Norfolk Southern, said it would make more sense for the industry to focus on enforcing existing rules rather than...
...Kansas City Southern, smallest of the seven Class I rail companies that dominate North America’s rail industry, also reported a quadrupling of its crude oil volumes for the fourth quarter, alongside a 23...
...The company divided Conrail, the formerly government-owned railroad company, with Norfolk Southern in a 1997 merger. 4....
...Executives at all four of the biggest US-based railway companies – UP, Burlington Northern & Santa Fe, CSX and Norfolk Southern – told the Financial Times that high road fuel prices were pushing increasing...
...… Power Player: Lorraine Baldry, LCR chairman Property veteran Lorraine Baldry is taking over as chairman of London & Continental Railways as the government-owned group looks to focus on property development...
...Michael Ward was speaking on Wednesday after CSX, the larger of two big railways in the eastern US, became the first major US-based rail company to announce 2009 results....
...Other companies among the big four US railroads saw share price rises on yesterday’s news. Main rival Union Pacific rose 6.8 per cent, while Norfolk Southern rose 2.4 per cent and CSX 6 per cent....
...This is better for example than the 74.8 per cent of the Norfolk Southern railroad or the 75.2 per cent of the Burlington, Northern and Santa Fe railroad – both had been better performers in recent years...
...In industrials, Boeing, the aerospace group and CH Robinson, the logistics provider, both undershot Wall Street expectations while Norfolk Southern, the railway company, outperformed....
...Buffett’s company has concentrated heavily on BNSF, where it is by now much the biggest shareholder, but it has also taken stakes in Union Pacific and Norfolk Southern....
...Union Pacific and Norfolk Southern rose 3.8 per cent, while Canadian Pacific gained 3.1 per cent and CSX was up 2.2 per cent. The companies being targeted by Berkshire have not been identified....
...The legendary investor also disclosed a smaller investment in Wellpoint, a US health insurer, and revealed further details of its exposure to the railway industry, identifying Virginia-based Norfolk Southern...
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