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Canada: CSX merger flop won’t deter Canadian Pacific from a deal

 |  October 22, 2014

Canadian Pacific Railway is reportedly still exploring possible mergers after discussions with US peer CSX fell apart.

Canadian Pacific confirmed Tuesday that it is no longer pursuing a deal with CSX, but reports say the company’s Chief Executive Hunter Harrison confirmed the railway is still exploring other merger options. While he said there were no specific merger targets in mind at present, Harrison confirmed via conference call that any interest in a deal would be taken seriously by Canadian Pacific.

The executive stressed a need for a tie-up as the railroad industry throughout North America struggles, but added that he saw any deal with top rivals Union Pacific and BNSF Railway as unlikely.

Full content: Wall Street Journal

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