CP hunts Norfolk Southern

News-in-print

The Canadian Pacific Railroad (CP) is refusing to give up its bid to merge with Norfolk Southern (NS). At the time of writing, CP had just announced a third offer, this time adding a “Contingent Value Right” (CVR) that effectively gives NS shareholders a liquid instrument that they can sell for US$25 per unit or redeem if the new CP-NS has not reached a share value of US$175 by 20 October 2017.

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