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Canada: Rail company eyes Norfolk Southern for takeover

 |  November 10, 2015

Canadian Pacific Railway is exploring a takeover of US carrier Norfolk Southern in a fresh attempt to consolidate the North American industry, Bloomberg reported, citing people familiar with the matter.

Canadian Pacific is raising financing and has held early-stage merger talks with Norfolk Southern, which is valued at about $24 billion. Discussions are preliminary and talks may not progress or lead to a deal, the report said.

Responding to recent market activity, Canadian Pacific Railway said that there was no material news pending at this time. CP did not comment on market rumour and speculation.

Full content: Bloomberg

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