CP Archives - Page 16 of 20

CP cuts raise worry over potential slowdown

By GFM Network News January 28, 2016

CNS Canada –– Canadian Pacific Railway’s decision to cut 1,000 jobs has caught the attention of two Prairie farm leaders. Norm Hall, president of Agricultural Producers Association of Saskatchewan, worries the move is short-sighted and may catch up with the railway in months and years to come, when commodity prices catch fire again. “You dump […] Read more

Crops, Machinery

CN’s 2015 grain handle down, grain revenue up

By Grainews Staff, GFM Network News January 26, 2016

Canadian National Railway’s (CN) fourth-quarter and full-year ledgers show lower traffic, but increased revenue, from its grain and fertilizer business in 2015, en route to record full-year earnings. Montreal-based CN on Tuesday reported overall net income of $3.538 billion on $12.611 billion in total revenues for 2015, up from $3.167 billion on $12.134 billion for […] Read more

Crops, Machinery

CP books more Prairie grain revenue at year-end

By Grainews Staff, GFM Network News January 21, 2016

Higher grain revenue on Canada’s Prairies helped lead to record full-year revenues and offset a lower fourth-quarter gross for Canadian Pacific Railway (CP), as the company warned of substantial job cuts ahead. The railway on Thursday reported overall net income of $1.352 billion on record revenue of $6.712 billion for 2015, down from $1.476 billion […] Read more

Crops, Machinery

Supreme Court tosses CP challenge on interswitching

By Grainews Staff, GFM Network News January 18, 2016

Canadian Pacific Railway’s (CP) bid to halt new federal rules which allow more Prairie elevators to move loaded grain cars on more than one railway has stopped at Canada’s highest court. The Supreme Court of Canada on Friday dismissed CP’s appeal of an October ruling at the Federal Court of Appeal — a ruling which […] Read more

Crops, Machinery

CN, CP both over revenue limits for 2014-15 grain haul

By Grainews Staff, GFM Network News December 29, 2015

Canada’s big two railways will both be required to hand over seven figures in Prairie grain revenue from the 2014-15 crop year after taking in more than their federally-allowed maximums. The Canadian Transportation Agency on Tuesday ruled Canadian National Railway and Canadian Pacific Railway (CN, CP) exceeded their grain revenue entitlements for the crop year […] Read more

Crops

CP to weigh options after another Norfolk rejection

By Grainews Staff, GFM Network News December 23, 2015

U.S. railway Norfolk Southern has rejected another new marriage proposal from Canadian Pacific Railway (CP), leaving the Calgary-based rail firm to “review its strategic alternatives.” Norfolk Southern said Wednesday its board of directors has “unanimously” rejected CP’s revised Dec. 16 proposal, which offered US$32.86 per share in cash, a fixed exchange ratio of 0.451 shares […] Read more

Crops, Machinery, Reuters

CP revises hostile bid for Norfolk Southern, again

By Euan Rocha, GFM Network News December 16, 2015

Reuters — Canadian Pacific Railway slammed railway Norfolk Southern on Wednesday, accusing it of misleading investors even as CP executives rolled out a new bid with increased shareholder protections to acquire the U.S.-based railroad. Executives from Canada’s second-largest railroad said the deal is now in the hands of Norfolk Southern’s shareholders, and urged its board […] Read more

Crops, Machinery, Reuters

Norfolk Southern rejects CP’s revised offer

By Reuters, GFM Network News December 15, 2015

Reuters — U.S. railroad operator Norfolk Southern has formally rejected a revised offer from Canadian Pacific Railway (CP), raising the prospect of a proxy battle. CP shareholder Bill Ackman said last week that CP CEO Hunter Harrison and he have both been sounded out by activists interested in a proxy fight with Norfolk Southern. Ackman […] Read more

Crops, Machinery, Reuters

CP revises offer for Norfolk Southern, rebuffed again

By Euan Rocha, GFM Network News December 8, 2015

Reuters — Canadian Pacific Railway (CP) on Tuesday revised its bid to buy U.S. railroad operator Norfolk Southern Corp, less than a week after its prior $28.4 billion proposal was rejected but the new offer was promptly rejected again. Calgary-based CP said it was now offering $32.86 in cash and 0.451 of a share in […] Read more

Crops, Machinery, Reuters

U.S. railway Norfolk Southern rejects CP offer

By GFM Network News December 4, 2015

Reuters — U.S. railroad operator Norfolk Southern said Friday its board had rejected Canadian Pacific Railway’s US$28.4 billion offer, calling it “grossly inadequate” and could face substantial regulatory hurdles. A struggling coal transportation market, suppressed by weak market demand and global oversupply, has weighed on the earnings of Norfolk, making it more vulnerable as a […] Read more

GFM Network News

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U.S. grains: Soybean prices rise as China-U.S. truce assessed

Tag Archives CP

CP cuts raise worry over potential slowdown

CN’s 2015 grain handle down, grain revenue up

CP books more Prairie grain revenue at year-end

Supreme Court tosses CP challenge on interswitching

CN, CP both over revenue limits for 2014-15 grain haul

CP to weigh options after another Norfolk rejection

CP revises hostile bid for Norfolk Southern, again

Norfolk Southern rejects CP’s revised offer

CP revises offer for Norfolk Southern, rebuffed again

U.S. railway Norfolk Southern rejects CP offer

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