Departing CP Rail CEO and Activist Said to Take Aim at CSX

Hunter Harrison, the outgoing chief executive officer of Canadian Pacific Railway Ltd., is teaming up with activist investor Paul Hilal to target CSX Corp., according to a person familiar with the matter.

The pair is likely to push to install Harrison in a leadership position at the U.S. railroad, said the person, who asked not to be identified because the matter is private. Hilal worked for years with billionaire hedge fund manager Bill Ackman before starting his own fund.