NS to be Taken Over by CP?
Re: NS to be Taken Over by CP?
NS reported earnings. They aren't pretty. I bet there are going to be a lot of investors wondering why they weren't given an option to vote on CP's offer when the current management is turning in the results they are...
Re: NS to be Taken Over by CP?
Well, it's kinda hard to replace all that coal traffic. Just sayin............
"Ask your doctor if medical advice from a TV commercial is right for you".
Re: NS to be Taken Over by CP?
Yeah, but the other railroads aren't feeling the crunch as bad as NS. Just saying....hoborich wrote:Well, it's kinda hard to replace all that coal traffic. Just sayin............
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Re: NS to be Taken Over by CP?
As CSX_CO said, they posted their 4th quarter earnings.... NS cutting 2000 jobs soon...
http://wsls.com/2016/01/27/norfolk-sout ... to-be-cut/
http://wsls.com/2016/01/27/norfolk-sout ... to-be-cut/
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Re: NS to be Taken Over by CP?
NS used to be a $130 stock a couple years ago. I got out around $110.
I still don't see anything that's going to replace the coal revenue. And the economy is slowing down, despite all the media happy talk.
And CP is going to be hurt by the reduction in crude oil shipments, as the no longer profitable shale oil operations are shut down.
http://www.bloomberg.com/news/articles/ ... rice-fight
I still don't see anything that's going to replace the coal revenue. And the economy is slowing down, despite all the media happy talk.
And CP is going to be hurt by the reduction in crude oil shipments, as the no longer profitable shale oil operations are shut down.
http://www.bloomberg.com/news/articles/ ... rice-fight
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Re: NS to be Taken Over by CP?
Watch it be all transportation and M/W. They're already workin on it.~Z~ wrote:As CSX_CO said, they posted their 4th quarter earnings.... NS cutting 2000 jobs soon...
http://wsls.com/2016/01/27/norfolk-sout ... to-be-cut/
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Re: NS to be Taken Over by CP?
BLOOMBERG NEWS: CP TO BACK AWAY FROM PROXY FIGHT
Canadian Pacific Railway Ltd. is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said.
Canada’s second-largest railroad likely won’t present an alternative slate of directors at Norfolk Southern’s annual meeting, said the person, who asked not to be identified because the deliberations haven’t been made public. Instead, Canadian Pacific will probably request a nonbinding resolution on the ballot which would ask the Norfolk Southern board to start talks, the person said Tuesday.
Canadian Pacific Chief Executive Officer Hunter Harrison is due to speak at an investor conference in Coral Gables, Florida, on Wednesday afternoon, and may make an announcement regarding Norfolk Southern then, the person said. Representatives for Norfolk Southern and Canadian Pacific declined to comment on the plans, which were reported earlier by Dow Jones.
Acquiring Norfolk Southern would allow Harrison to create a coast-to-coast railroad that eliminates rail-car exchanges between the carriers and would enable him to apply his efficiency expertise to Norfolk Southern, which lags behind other large carriers in key service measures. Norfolk Southern’s board has rejected proposals from Canadian Pacific -- including one in mid-December that was valued at about $27 billion.
Norfolk Southern fell less than 1 percent to $70.10 at 1:03 p.m. in New York, while Canadian Pacific was little changed at C$169.19 in Toronto.
Polling Shareholders
Activist investor Bill Ackman, whose Pershing Square Capital Management is Canadian Pacific’s second-largest shareholder, said on a conference call on Dec. 16 that the easiest way forward would be to submit a shareholder resolution urging Norfolk Southern’s board to sit down with Canadian Pacific management to discuss a possible merger.
“I think shareholders would overwhelmingly approve that resolution,” Ackman said at the time. The investor and Canadian Pacific hadn’t ruled out a proxy fight at that point. Such a move, including nominating a slate of directors, was the “more aggressive way,” Ackman said.
The deadline to submit proxy materials or shareholder proposals for Norfolk’s annual general meeting is Feb. 14, according to its website.
The U.S. Surface Transportation Board has received dozens of comments on the potential deal from various stakeholders, including shipping customers, other railroads and lawmakers. Some shippers have expressed support for a merger, while a majority of the submissions have said further rail consolidation would hurt competition.
(An earlier version of this story was corrected to say Pershing Square is Canadian Pacific’s second-biggest shareholder.)
Before it's here, it's on the Bloomberg Terminal.
http://www.bloomberg.com/news/articles/ ... roxy-fight
Canadian Pacific Railway Ltd. is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said.
Canada’s second-largest railroad likely won’t present an alternative slate of directors at Norfolk Southern’s annual meeting, said the person, who asked not to be identified because the deliberations haven’t been made public. Instead, Canadian Pacific will probably request a nonbinding resolution on the ballot which would ask the Norfolk Southern board to start talks, the person said Tuesday.
Canadian Pacific Chief Executive Officer Hunter Harrison is due to speak at an investor conference in Coral Gables, Florida, on Wednesday afternoon, and may make an announcement regarding Norfolk Southern then, the person said. Representatives for Norfolk Southern and Canadian Pacific declined to comment on the plans, which were reported earlier by Dow Jones.
Acquiring Norfolk Southern would allow Harrison to create a coast-to-coast railroad that eliminates rail-car exchanges between the carriers and would enable him to apply his efficiency expertise to Norfolk Southern, which lags behind other large carriers in key service measures. Norfolk Southern’s board has rejected proposals from Canadian Pacific -- including one in mid-December that was valued at about $27 billion.
Norfolk Southern fell less than 1 percent to $70.10 at 1:03 p.m. in New York, while Canadian Pacific was little changed at C$169.19 in Toronto.
Polling Shareholders
Activist investor Bill Ackman, whose Pershing Square Capital Management is Canadian Pacific’s second-largest shareholder, said on a conference call on Dec. 16 that the easiest way forward would be to submit a shareholder resolution urging Norfolk Southern’s board to sit down with Canadian Pacific management to discuss a possible merger.
“I think shareholders would overwhelmingly approve that resolution,” Ackman said at the time. The investor and Canadian Pacific hadn’t ruled out a proxy fight at that point. Such a move, including nominating a slate of directors, was the “more aggressive way,” Ackman said.
The deadline to submit proxy materials or shareholder proposals for Norfolk’s annual general meeting is Feb. 14, according to its website.
The U.S. Surface Transportation Board has received dozens of comments on the potential deal from various stakeholders, including shipping customers, other railroads and lawmakers. Some shippers have expressed support for a merger, while a majority of the submissions have said further rail consolidation would hurt competition.
(An earlier version of this story was corrected to say Pershing Square is Canadian Pacific’s second-biggest shareholder.)
Before it's here, it's on the Bloomberg Terminal.
http://www.bloomberg.com/news/articles/ ... roxy-fight
the contents of the above post are my opinion and mine alone, and do not necessarily reflect the views of my employer.
Re: NS to be Taken Over by CP?
Norfolk Southern [NSC] closed up .93 at $71.42 at 4:00.Norfolk Southern fell less than 1 percent to $70.10 at 1:03 p.m. in New York
"Ask your doctor if medical advice from a TV commercial is right for you".
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Re: NS to be Taken Over by CP?
More like 0 to 1 CP, and shareholders are in the negative. CP/Ackman is getting what it wants, a shareholder vote. That's something NS refused to agree to. So if anything, CP wins this round. Given the NS stock slide since the initial offer, NS's poor results, and EHH's fast talking, it could be a bad outcome for the current NS regime.TrainWatcher wrote:CP Take-Over, Round 4... NS 4, CP 0.
http://www.nscorp.com/content/nscorp/en ... lderp.html
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Re: NS to be Taken Over by CP?
I found this interesting:
http://www.businessinsider.com/ackman-b ... ule-2016-2
http://www.businessinsider.com/pershing ... ent-2016-1
Just interesting reading.
http://www.businessinsider.com/ackman-b ... ule-2016-2
http://www.businessinsider.com/pershing ... ent-2016-1
Just interesting reading.
Brett
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Re: NS to be Taken Over by CP?
CP reportedly went after CSX again while holding firm on taking over NS. It was covered in the Wall Street Journal but I can't get the full article. I'll see if I can find it somewhere.
Found it:
http://www.thestate.com/news/business/n ... 69502.html
Found it:
http://www.thestate.com/news/business/n ... 69502.html
the contents of the above post are my opinion and mine alone, and do not necessarily reflect the views of my employer.
Re: NS to be Taken Over by CP?
I'm thinking the CP/NS takeover is dead. Tonight on the Nightly Business Report, they said the Pentagon opposed the plan, saying it would hurt our defense. They didn't go into details. Just said the Pentagon opposed the takeover, for security reasons.
OK, I just went and replayed the show on the net, and the Pentagon doesn't like the idea of CP running the operation, claiming it could undermine our defense.
OK, I just went and replayed the show on the net, and the Pentagon doesn't like the idea of CP running the operation, claiming it could undermine our defense.
"Ask your doctor if medical advice from a TV commercial is right for you".
Re: NS to be Taken Over by CP?
Yeah, ok. If that's the case, then everything the US army uses better be "made in the USA." If not, having outside contractors might "undermine security."hoborich wrote:I'm thinking the CP/NS takeover is dead. Tonight on the Nightly Business Report, they said the Pentagon opposed the plan, saying it would hurt our defense. They didn't go into details. Just said the Pentagon opposed the takeover, for security reasons.
OK, I just went and replayed the show on the net, and the Pentagon doesn't like the idea of CP running the operation, claiming it could undermine our defense.
Unless they see Canada as a threat, it is a weak argument. The last time we fought with Canada was the War of 1812? Anyone see "Canadian Bacon"?
Re: NS to be Taken Over by CP?
http://www.cbc.ca/news/business/cp-norf ... -1.3527104
http://www.reuters.com/article/cp-norfo ... ompanyNews
http://www.reuters.com/article/cp-norfo ... ompanyNews
"Ask your doctor if medical advice from a TV commercial is right for you".
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Re: NS to be Taken Over by CP?
BREAKING:
The Brotherhood of Locomotive Engineers and Trainmen is reporting that CP has officially broken off merger efforts with NS.
I'll be back with a link soon!
http://www.financialpost.com/m/wp/blog. ... thern-corp
The Brotherhood of Locomotive Engineers and Trainmen is reporting that CP has officially broken off merger efforts with NS.
I'll be back with a link soon!
http://www.financialpost.com/m/wp/blog. ... thern-corp
Last edited by NSSD70ACe on Mon Apr 11, 2016 10:23 am, edited 1 time in total.
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Re: NS to be Taken Over by CP?
Well what do you know! I guess those of us that predicted from the beginning that it would never happen weren't wrong after all.
Brett
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Re: NS to be Taken Over by CP?
And CP shares rise almost $10 a share the last two days...NS gets bupkus and the share price falls.
Just like the line in In The Heat Of The Night when the wife of the murder victim building the new factory in Sparta said, and I paraphrase..."I'll take my factory and my money and leave you all to yourselves."
I think NS tossed themselves under the bus but then again the nice steam engine and the pretty paint on the locomotives seems big for some...so it goes.
The CP shareholders seem happy enough though...
Just like the line in In The Heat Of The Night when the wife of the murder victim building the new factory in Sparta said, and I paraphrase..."I'll take my factory and my money and leave you all to yourselves."
I think NS tossed themselves under the bus but then again the nice steam engine and the pretty paint on the locomotives seems big for some...so it goes.
The CP shareholders seem happy enough though...
Curb Your Enthusiasm.