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CP confirms merger offer
Welp, goodbye 611, 630, 4501, 765, the heritage locomotives, the veterans locomotive, the emergency responders locomotive, the F-units and anything fan friendly in Eastern railroads. If you want any of that, you have to go over to the West now.
I don’t think it will happen.
It would make no since to marge.
Who is marge?
I don’t know, I just feel that NS is not willing to lose their identity to Canadian Pacific. Also I get the under tones that all of the other class 1 railroad are going to fight it. I don’t see it happening.
If the merger goes through, who will keep their identity? What will become of the 21st Century Steam Program and NS’s half of Conrail? And what will happen to the Heritage Units?
It needs regulatory approval by two federal governments that don’t like foreign control over key industries. Hold on for a bit, folks. The fat lady hasn’t sung yet. Especially up here in Canada.
If the head honcho’s at NS have any smarts, they will (as CSX did a year or so ago) say, Thanks but no thanks, and allow their stockholders to profit a bit from the merger talk.
@ Andy Sammonds, if ever there was a merger, NS’s share of ConRail would be rolled into the new outfit, and the ConRail Shared Assets areas would simply continue to be shared with CSX.
NS posted the offer as a Press Release. Noting the corporate-speak, they seem less than impressed with the offer. http://www.nscorp.com/content/nscorp/en/news/norfolk-southernboardofdirectorstoevaluateunsolicitedlowpremiumn.html
From the Press Release (Fair Use Quote):
“Norfolk Southern Corporation (NYSE: NSC) (“the Company”) today confirmed that it has received an unsolicited, low-premium, non-binding, highly conditional indication of interest from Canadian Pacific (CP.TO) to acquire the Company for $46.72 in cash and a fixed exchange ratio of 0.348 Canadian Pacific shares per Norfolk Southern share, representing a premium of less than 10% based on closing prices today.”