In late 2015, Canadian Pacific Railway Ltd. (CP) sat down with CSX Corp. for merger talks, but the rail companies were unable to strike a deal. Following the rejection, CP decided to analyze the value of a merger with Norfolk Southern Corp. (NS) and found even greater value for its shareholders.
While the NS board has rejected a total of three proposals, CP is continuing its merger efforts. However, the potential for greater industry consolidation has many stakeholders and governme
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