Norfolk Southern +3.5% as Ackman says CP Rail may buy competitor to CSX

• Norfolk Southern (NYSE:NSC) +3.5% premarket after Bill Ackman said Canadian Pacific Railway (NYSE:CP) might be interested in a rival to one-time target CSX.
• While Ackman did not name NSC in his comments yesterday, he appeared to have the company in mind by describing his takeover candidate in relation to CSX, as the two carriers go head-to-head in the U.S. east of the Mississippi River.
• “I think something happens,” Ackman said, noting that CP CEO Hunter Harrison believes "pro-competitive" railroad mergers will be permitted by regulators.