Ackman-Backed Plan Dies as Canadian Pacific Ends Norfolk Bid

  • Suitor `saw a deck stacked against us,' CEO Harrison says
  • Move comes days after U.S. Justice Department opposes takeover

Canadian Pacific Ends Bid to Purchase Norfolk Southern

Canadian Pacific Railway Ltd. abandoned its bid to buy Norfolk Southern Corp. after five months of public efforts and several rejected bids, dealing a setback to investor Bill Ackman, who championed the transaction.

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