- Norfolk Southern (NYSE:NSC) will "carefully evaluate" Canadian Pacific Railway's (CP) $28.4B acquisition offer, but has described the bid as "low-premium" and warned that it would face significant regulatory obstacles.
- Canadian Pacific is more optimistic and believes that authorities would approve the merger, which it argues will improve customer service and facilitate competitive rates for shippers.
- Canadian Pacific is offering around $94.94 in cash and stock, or a 9% premium to Norfolk Southern's closing price of $87 yesterday.
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