Rail merger pursuit hits snags

Rail merger pursuit hits snags

SINCE mid-November, Canadian Pacific Railway Ltd. (CP), the second-largest railroad in Canada, has pursued U.S. carrier Norfolk Southern Corp. (NS) in hopes of securing a merger, but it continues to hit dead ends.

Last week, NS unanimously rejected — for a second time —CP's most recent revised proposal, saying it is "grossly inadequate (and) creates substantial regulatory risks

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