hunter-harrison
Norfolk Southern hostile to Canadian Pacific’s $28.4 billion bid
November 18, 2015 by admin · Leave a Comment
While Norfolk Southern said it would carefully evaluate the offer, its sour response represents a setback to Canadian Pacific as well as its largest shareholder, William Ackman's activist hedge fund Pershing Square Capital Management LP. Ackman, a big advocate of consolidation in the North American railway sector, recruited Hunter Harrison, who had previously been chief executive officer of Canadian National Railway Co , as CEO of Canadian Pacific in 2012. In a statement earlier on Tuesday announcing its offer to Norfolk Southern, …
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Norfolk Southern hostile to Canadian Pacific’s $28.4 billion bid