Norfolk Southern Railroad to Remain Independent as Canadian Pacific Gives Up on Bid

Canadian Pacific Railroad, which operates rail service in Canada and segments of the Midwest and Southern United States, announced it will end its efforts to purchase its rival Norfolk Southern.

Norfolk Southern responded negatively to the almost $30 billion purchase, saying it did not think regulators would approve of the deal. Ownership of Norfolk would have expanded Canadian Pacific’s rail-reach to the East Coast, the Midwest and the South. Norfolk Southern is based out of Norfolk, Virginia.

Norfolk Southern Corporations stock price dipped almost 2 percent in trading before the opening bell on Monday. Canadian Pacific Shares were not affected by the announcement.

Jonathon Bowes

About Jonathon Bowes

Jonathan Bowes started his career in banking. After a few years, he took courses in business and finance and worked his way up the corporate ladder. Today, while writing part-time for Business District, Bowes assists talented people to find jobs in the field of economics. Contact Bowes at Jonathon[at]businessdistrict.com