Norfolk Southern Corp. acknowledged it has received an unsolicited, low-premium, non-binding and highly conditional indication of interest from Canadian Pacific to acquire the company.
Norfolk Southern on Sept. 18 said it had completed the acquisition of 282 miles of the Delaware & Hudson Railway Co.’s (D&H) line between Sunbury, Pa., and Schenectady, N.Y.
Canadian Pacific Railway has reached a labor agreement with 1,200 of its mechanical employees responsible for maintaining rail cars and locomotives, the railroad said. Unifor members ratified the agreement with the Calgary, Alberta-based railroad. The railroad has now reached six long-term collective agreements with different unions, including police and rail traffic controller unions. “This negotiated agreement is fair to both sides and is the result of hard work by all of those involved,” Peter Edwards, CP’s vice president of human resources and labour relations, said in a news release. “We look forward to further developing our positive working relationship with
Canadian Pacific Railway has been recognized as a leader for the depth and quality of climate change data it has disclosed to investors and the global marketplace through CDP, the international NGO that drives sustainable economies.
Norfolk Southern Corp. is acquiring from the Delaware & Hudson Railway Co. (D&H), a subsidiary of Canadian Pacific Railway, 282.55 miles of rail line between Sunbury, Pa., and Schenectady, N.Y., in a $217 million sale.
Canadian Pacific Railway Limited today said exploratory conversations with CSX Corp. about a possible merger have ended, and no further talks are planned.