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Post Info TOPIC: Canadian Pacific wants to merge with CSX?


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RE: Canadian Pacific wants to merge with CSX?
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Snippy wrote:
Cy Valley wrote:

Well, yeah, the Wabash, tu, but screw 'em.


 Bidder old *cy*. The Wabash made tons more money than he of the original Red Team.


 I believe Snippy is talking out of his hintermost quarters because his head knows better.



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Force Majeure

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One of our biggest concerNS is something called prep time.

Did jew get it?

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No. Only in the latter days when Cy worked some of those jobs. But still, there were things that really sucked in the Wabash agreements for HAWGS, especially, when there were firemen being called for emergency engineers, those guys could get HAMMERED real good. Beat up badly. Never liked their bid system, either, which disappeared with the consolidated agreement. But didn't realize where you were going with this.

Let's put it this way, the Clown Town. . .uh, never mind, we're not in a good place for that conversation.

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Uke


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Let's get back on topic shall we? We've strayed a bit far afield since the opening comments, and a few sensitive egos have gotten fired up over nothing... And the 1 main point is CP+CSX right? Yep! Hence:

 

Ackman Sees Certain Rail Mergers As Favorable

Declines To Comment Specifically On Potential Canadian Pacific-CSX Tie-Up

TORONTOHedge-fund activist investor Bill Ackman said regulators would look favorably on consolidation in the railroad industry if a merger produced an entity that was more competitive with other railroads and trucking operators.

There are rail combinations that could not happen for antitrust reasons, but there are some rail combinations that are pro-competitive as opposed to anti-competititve, Mr. Ackman said Thursday.

On Sunday, The Wall Street Journal reported that Canadian Pacific Railway Ltd. , whose board includes Mr. Ackman, approached U.S. rail operator CSX Corp. about a merger but was rebuffed. People familiar with the matter said talks between the two companies were still possible.

You take the management of CP, which has done an incredible job, and you combine it with another rail where they can get the benefit of combined management teams in addressing problems, Mr. Ackman said.

The comments appeared to bless the potential tie-up. However, Mr. Ackman declined to comment specifically on rumors and speculation regarding CPs approach to CSX.

CSX Chief Executive Michael Ward said on a conference call Wednesday that railroad mergers could worsen congestion and traffic problems, adding that he believed rail regulators would be very concerned about the effect of a merger on rail-service levels because the network has been slowed by recent increases in volumes. Mr. Ward wouldnt directly address the proposed CP-CSX merger.

Calgary-based CP is two years into a turnaround which began after Mr. Ackman launched a proxy battle that overturned the companys management and installed railroad veteran Hunter Harrison as chief executive. CP reported record revenue of 6.1 billion Canadian dollars ($5.4 billion) last year while improving its operating ratio, which measures the amount of revenue consumed by operating costs.

Mr. Ackman didnt specify on Thursday which regulators would look favorably upon a merger of CP and CSX.

A merger of two of North Americas largest railroads would face heavy scrutiny from the U.S. Surface Transportation Board, which has a history of intervening in M&A activity in the rail industry. U.S. and Canadian government officials would also be expected to look closely at any proposed deal between the two.

Mr. Ackman said that CPs chief, Mr. Harrison, believes that some rail mergers could meaningfully improve congestion issues in places like Chicago, a key gateway for major North American rail operators.

We are not building any new railroads, Mr. Ackman said. The only way that we are meaningfully improve the fluidity and efficiency of rails is operational. Youre not going to build a new railroad across the country so the question is, what is the best way to achieve that?

Mr. Ackmans Pershing Square Capital Management owns about 8% of CPs shares. The activist investor was in Toronto to attend an event put on by the Ontario Securities Commission.



-- Edited by Uke on Thursday 16th of October 2014 05:38:01 PM

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Hmm. That address doesnt look right.
It looks like the link pointing here was faulty.

Gah. Your tab just crashed.



Force Majeure

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Fuck yoUke!

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Force Majeure

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Snippy wrote:

Fuck yoUke!


 Screen Shot 2014-10-16 at 8.29.54 PM.png



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Splooge brother Snippy awarding Snippy now.

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Uke


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Damn digressions... Snippy's attitude has gotten bad since this topic (CP+CSX) began! That said, Snippy's attitude hasn't reached the level of...

                                  bdsmaller.jpg       



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Unstable & Irrational

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I go on vacation for one week with a few personal daze, and this shit happens???? Hunter has been trying to contact me I heard, hard to find me in the hollers of TN...

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Everytime MIR comes around as a railroad worker you
wish you were on vacation during these times but sometimes
a lot of shit happens while your away to where you cant enjoy
your vacation. So where in the hollers of TN are you? I had
some kin that lived in TN in 1800's. "Athens/Sweetwater"
TN area. SOU ran through the area so I'm figuring my kin
took a few train rides on the SOU during their lifetimes.

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Look Ahead.
Look South.

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Snippy wrote:

Enjoy your relationship with Hitler, Brothers.


 In this May 22, 2014, photo, empty train cars, front, sit in a yard after having their loads of coal unloaded at Norfolk Southern's Lamberts Point coal terminal in Norfolk, Va.  (Patrick Semansky/AP)

Norfolk Southern shares rise on CP merger speculation Add to ...


Norfolk Southern Corp. led gains among U.S. railroads after activist investor Bill Ackman said Canadian Pacific Railway Ltd. may pursue a rival to one-time target CSX Corp.

While Ackman didnt name Norfolk Southern in remarks yesterday at the Invest for Kids conference in Chicago, he described the possible takeover target in relation to CSX. Norfolk, Virginia-based Norfolk Southern and CSX go head-to-head in the U.S. east of the Mississippi River.

Globe and Mail Update Oct. 23 2013, 1:32 PM EDT

Video: Market View: Why CP Rail's operating costs are turning heads in a good way

MORE RELATED TO THIS STORY

CSX is not the only potential railroad we can merge with, said Ackman, a Canadian Pacific director and founder of hedge fund Pershing Square Capital Management LP. I think the risk with CSX is we merge with a competitor to the Jacksonville, Florida-based carrier.

Canadian Pacifics overtures to CSX last month kindled speculation that the North American industry may be poised for a final round of consolidation. While Calgary-based Canadian Pacific said later that talks had ended, Chief Executive Officer Hunter Harrison talked up the value of mergers and renewed his call for more combinations.

I think something happens, Ackman said yesterday. Hunter believes that pro-competitive railroad mergers will be allowed to happen by regulators.

Stock Advances Norfolk Southern climbed 1.8 per cent to $112.69 (U.S.) Friday morning in New York after touching $114.40, the highest in intraday trading in data compiled by Bloomberg going back to 1980. CSX and Kansas City Southern also rallied today. Canadian Pacific rose 0.8 per cent to $236.87 (Canadian).

CSX and Norfolk Southern rank are the two dominant railroads in the eastern U.S. A Canadian Pacific combination with either one would create a transcontinental North American carrier.

Breanne Feigel, a spokeswoman for Canadian Pacific, declined to comment. Rick Harris, a spokesman for Norfolk Southern, said: We dont comment on speculation and rumors.

Pershing Square is Canadian Pacifics second-largest investor, according to data compiled by Bloomberg. Ackman led the ouster of CEO Fred Green in 2012 and the hiring of Harrison, the retired chief of Canadian National Railway Co.

Last month, Ackman championed the idea that rail mergers would help unwind recent congestion on North American tracks, saying a lot of that can be dealt with through some mergers that are actually pro-competitive.

U.S. regulators have raised barriers to mergers in recent years after decades of consolidation since the industrys deregulation in 1980 thinned major U.S. railroads to just four: CSX and Norfolk Southern in the eastern U.S., and Union Pacific Corp. and Berkshire Hathaway Inc.s BNSF Railway Co. operating chiefly west of the Mississippi.

The two main Canadian railroads also have tracks in the U.S., thanks to acquisitions.

With assistance from Joshua Fineman and Libby Sallaberry McGowan in New York and Frederic Tomesco in Montreal.



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Duck, Snippy, duck!!!!!!!

What will Wick do?

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Force Majeure

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Retire.

What will Jim do?

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(Revised) Duck, Pipes, duck!

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