Norfolk Southern Releases White Paper From Former Surface Transportation Board Commissioners
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Canadian Pacific Railway (CP) Reports Improved Offer for Norfolk Southern (NSC)
December 8, 2015 7:00 AM ESTCanadian Pacific (NYSE: CP) announced it has sent a revised offer letter to Norfolk Southern Corp. (NYSE: NSC) that is financially more attractive and dramatically reduces the regulatory uncertainty for NS shareholders.
Below is the full text of the revised offer letter sent to NS CEO James Squires:
Mr. James A. Squires Chairman and Chief Executive OfficerNorfolk Southern Railway CompanyThree Commercial PlaceNorfolk, VA 23510
Dear Jim,
In order to address... More
Norfolk Southern (NSC) Advised by Former STB Commissioners Over Canadian Pacific (CP) Proposal
December 8, 2015 6:27 AM ESTNorfolk Southern Corporation (NYSE: NSC) (the "Company") announced that former Surface Transportation Board ("STB") commissioners Francis Mulvey and Charles Nottingham have carefully reviewed voting trust issues and the merger transaction proposed by Canadian Pacific (NYSE: CP) and agree with the Norfolk Southern board of directors that both would be highly unlikely to be approved by the STB.
"The Norfolk Southern board is committed to creating value for shareholders and exploring all bona fide opportunities to enhance value," said Chairman, President and CEO James A. Squires. "In that regard, the... More
