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...
...Shares in US railway operator CSX spiked by as much as 8 per cent following a report that rival Canadian Pacific Railway has revived its failed attempt to buy the company....
...Some potentially encouraging comments from Norfolk Southern on a fresh takeover offer tabled by rival railway operator Canadian Pacific earlier on Wednesday....
...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...
...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....
...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...
...“Norfolk Southern is now the outlier,” Mr Hatch says of how the company has suffered compared with others....
...The Canadian railway operator has unveiled a fresh offer for US rival Norfolk Southern (NS) as chief executive Hunter Harrison looks to convince the latter’s investors of the merits of creating a transcontinental...
...Elsewhere, Norfolk Southern fell 2.7 per cent to $79.28 after Canadian Pacific said it would end its months-long pursuit of the US railway operator....
...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...
...The results come as CP pursues a merger with Norfolk Southern, the number two rail operator in the eastern US....
...Norfolk Southern depends heavily on moving coal from the Appalachian coalfields. Railways had until last year been among the biggest corporate beneficiaries of the US’s economic recovery....
...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....
...Some shippers had moved their cargo to vessels heading to New York and New Jersey, Norfolk, Virginia and other US east coast ports, Mr Davidson said....
...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...
...Norfolk Southern, the other big eastern network, announced fourth-quarter net income down 14 per cent to $413m on revenue down 4 per cent to $2.68bn....
...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...
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