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Canadian Pacific scraps efforts to buy Norfolk Southern

2016-04-11 14:45:18| Railroads - Topix.net

The announcement comes days after the U.S. Justice Department urged the Surface Transportation Board to reject a voting trust arrangement Canadian Pacific Railway had proposed as part of its bid. Calgary-based CP, Canada's second-largest railroad operator, launched its takeover bid for Norfolk Southern in mid-November, touting potential savings of more than $1.8 billion annually.

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