, Columnists
Canadian Pacific's Underwhelming Bid
The railroad operator's offer for Norfolk Southern isn't compelling, especially given regulatory hurdles.
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Canadian Pacific may want to rethink its definition of sizable.
The $21 billion railroad operator said Tuesday that it had approached Norfolk Southern with an offer to buy the company for a "sizable premium" in cash and stock. Norfolk Southern shed some light on the terms a few hours later: $46.72 in cash and 0.348 of a Canadian Pacific share, or about $95 a share.