Canadian Pacific terminates efforts to merge with Norfolk Southern
On April 11, CP terminated efforts to merge with Norfolk Southern Corp., including the withdrawal of a resolution asking NS shareholders to vote in favour of good-faith negotiations between the two companies. No further financial offers or overtures to meet with the NS board of directors are planned at this time.
Value for Shareholders
We believe there is significant value for NS shareholders in a combined CP-NS network. CP’s proposal offers a significant premium to NS shareholders in the form of cash, stock and a contingent value right (CVR).
Benefits for Shippers
Industry consolidation can improve service and efficiency without physical expansion of rail infrastructure, which communities oppose.
A More Fluid Chicago
A coast-to-coast railway combination would alleviate congestion in the key Chicago hub and create new opportunities for competitors to provide improved service to their own customers.
On December 16, 2015, CP presented a revised, enhanced proposal for NS that would provide NS shareholders with a substantial premium. It’s worth a serious talk between CP and NS leadership.
How to Vote
Make your voice heard at the next NS annual meeting by voting to support talks between CP and NS leadership. Learn more about CP’s shareholder resolution.