Canadian Pacific Railway has held early-stage merger talks with Norfolk Southern and is raising financing for an acquisition, according to Nov. 9, 2015 news reports citing confidential sources at both carriers. NS stock jumped 11%, the most since 2008, to $88.62 at the close of the New York Stock Exchange, while CP’s 5.7% rally to C$188.79 on the Toronto Stock Exchange was its biggest gain since 2013.
Canada’s three major railways should benefit from the Oct. 19, 2015 sea-to-sea election sweep by Justin Trudeau’s Liberal Party of Canada. Trudeau’s party even managed to get four members of parliament elected in Alberta’s two metropolises, Calgary and Edmonton—the ideological and financial anchors of the defeated Stephen Harper’s pro-pipeline and anti-rail Conservative government.
Canadian Pacific Railway (CP) on Oct. 20, 2015 posted its highest-ever revenue for the third quarter, with a 16% growth in adjusted earnings per share to $2.69 and the lowest operating ratio for the period in the company’s history.
The Engineering Services track of the American Railway Engineering and Maintenance-of-Way Association’s (AREMA) Annual Conference kicked off with a presentation from Ron Gagne, director track systems, Canadian Pacific (retired), on the railroad’s implementation of an autonomous track geometry measurement system (ATGMS).
Canadian Pacific Railway (CP) has acquired Steelcare Inc., Canada’s largest steel transload facility, the railroad announced Sept. 29, 2015.
Canadian Pacific Railway Ltd. has completed the sale of a 282-mile segment of its Delaware & Hudson subsidiary to Norfolk Southern Corp.—the D&H South line, which connects Schenectady, N.Y., with Sunbury, Pa.
Scott Brash and his horse Hello Sanctos won the Canadian Pacific (CP) International, while helping to raise $150,000 through CP’s Clear Rounds for Heart initiative, the railroad announced Sept. 13, 2015.
Canadian Pacific says it “is well positioned to provide best-in-class service to western Canadian grain shippers during the 2015-2016 crop-year.”
Canadian Pacific (CP) has reached a tentative six-year agreement with Brotherhood Railway Carmen (BRC-TCU), a division of the Transportation and Communications Union/International Association of Machinists, the company announced on July 29, 2015. The BRC represents employees on CP’s wholly owned subsidiary, Soo Line Railroad Company.
Canadian Pacific Railway on July 21, 2015 posted its highest-ever net income and lowest-ever operating ratio for a second quarter.