Eastern Railroad Discussion > CP Drops NS Proxy fight Takeover

Word on Wall Street is that CP is abandoning it's threat of a proxy fight of NS - from what I understand this may end their take over attempt.

Source: http://finance.yahoo.com/news/cp-abandoning-threat-proxy-fight-171300791.html;_ylc=X1MDMTE5Nzc4NDE4NQRfZXgDMQRfeXJpZAM3cWd0amF0YmJrOW5qBGcDZFhWcFpEeHVjejVoTXpBMVpqazBZUzFqWXpneUxUTm1PRFF0WVdFeFppMHdZakpoTkdWaE56TTJZVFE4Wm1sbGJHUStibk5qBGxhbmcDZW4tVVMEb3JpZ19sYW5nA2VuBG9yaWdfcmVnaW9uA1VTBHBvcwMwBHJlZ2lvbgNVUwRzeW1ib2wDTlND?.tsrc=applewf

Edit: a quote from Bloomberg news states "Canadian Pacific Railway Ltd. is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said."

Posted from iPhone



Edited 2 time(s). Last edit at 02/09/16 10:12 by MrMichael.

The damage is done, might as well sit back and watch the show. 

wabash1189 Wrote:
-------------------------------------------------------
> The damage is done, might as well sit back and
> watch the show. 
Agreed.   Eff CP.
RichS

NS for better or worse wasn't going to give up their thorobred brand without a dogfight

Good. Let Mr. EHH obsess about something else... === === = === JLH

highgreengraphics Wrote:
-------------------------------------------------------
> Good. Let Mr. EHH obsess about something else...

Another way to take over IHB?

TAW

That's to bad, at this point NS has become so miserable to work at and morale is so low around here I was actually hoping he would come in here and get us paid. All NS keeps doing is slash and burn, cut jobs, cut OT, furlough... at least CP will pay you $450 a day for that kind of treatment

There goes any hope of a decent wage ever being made at this hillbilly run sh*thole

Posted from Android



Edited 1 time(s). Last edit at 02/09/16 10:25 by SlipperyWhenWet.

Heck, our extra board has been out of people rested for the last few weeks, and we woke up today to discover they cut two more turns without telling anyone first.... But, hey, we're still short in management! Better send out full color booklets to everyone to highlight how we're going to save money! Better have more golf outings in Georgia and more retreats at Brosnan.

MrMichael Wrote:
-------------------------------------------------------
> Word on Wall Street is that CP is abandoning it's
> threat of a proxy fight of NS - from what I
> understand this may end their take over attempt.
>
> Source:
> http://finance.yahoo.com/news/cp-abandoning-threat
> -proxy-fight-171300791.html;_ylc=X1MDMTE5Nzc4NDE4N
> QRfZXgDMQRfeXJpZAM3cWd0amF0YmJrOW5qBGcDZFhWcFpEeHV
> jejVoTXpBMVpqazBZUzFqWXpneUxUTm1PRFF0WVdFeFppMHdZa
> kpoTkdWaE56TTJZVFE4Wm1sbGJHUStibk5qBGxhbmcDZW4tVVM
> Eb3JpZ19sYW5nA2VuBG9yaWdfcmVnaW9uA1VTBHBvcwMwBHJlZ
> 2lvbgNVUwRzeW1ib2wDTlND?.tsrc=applewf
>
> Edit: a quote from Bloomberg news states "Canadian
> Pacific Railway Ltd. is moving away from a proxy
> fight for Norfolk Southern Corp. but still plans
> to pursue a takeover of the U.S. carrier, a person
> familiar with the plan said."
>
> Posted from iPhone


Read on CNN  CP stock press release   - 2 - 9 - 2016  

CP files shareholder proposal for Norfolk Southern Annual Meeting.   May  14,  2016   

http://money.cnn.com/news/newsfeeds/articles/prnewswire/CA18797.htm   

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From  Norfolk - Virginia Beach,  Va.       pilotonline.com  - 2 - 9 - 2016

http://pilotonline.com/news/nation-world/virginia/canadian-pacific-wants-vote-on-norfolk-southern-deal/article_c1d82130-5508-5386-bd7b-3ab2a148ab8f.html

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http://money.cnn.com/news/newsfeeds/articles/prnewswire/NY19289.htm -  2 - 9 -  2016   -  6:10  P.M.  ET 

Norfolk Southern Comments on Canadian
Pacific's  Non-Binding  Shareholder  Proposal


 



Edited 6 time(s). Last edit at 02/09/16 19:08 by Thoroughbred-Ed.

CP dropped the fight proxy because they knew they would lose.  They will also lose a vote for NS to negotiate with them at the NS shareholders meeting.
Other than CP itself, there is little support for the merger. 
ALLEN

SlipperyWhenWet Wrote:
-------------------------------------------------------
> That's to bad, at this point NS has become so
> miserable to work at and morale is so low around
> here I was actually hoping he would come in here
> and get us paid.
So your not getting paid then?
>
> There goes any hope of a decent wage ever being
> made at this hillbilly run sh*thole
Quit then.
Ken
 

If you can't raise a war chest to buy the shares you need, you won't get very far.

Many of Ackman's backers saw their gains in CP evaporate. Valeant and HerbalLife have been money pits.

(FWIW, I suspect some current NS owners would be delighted to see a deal proposal from UP or another credible investor.)

Posted from Android

dr1283000 Wrote:
-------------------------------------------------------
> SlipperyWhenWet Wrote:
> --------------------------------------------------
> -----
> > That's to bad, at this point NS has become so
> > miserable to work at and morale is so low
> around
> > here I was actually hoping he would come in
> here
> > and get us paid.
> So your not getting paid then?
> >
> > There goes any hope of a decent wage ever being
> > made at this hillbilly run sh*thole
> Quit then.
> Ken
>  

if you call only working 2 and 3 days a week then yes im still getting paid, but its no way to live a life, and your quit comment is probably the dumbest thing ive ever read

Is there actually any chance that NS employees would GET that higher CP wage if the two merged?  My guess is that would alter the earnings potential of the former NS pretty severely.

SlipperyWhenWet Wrote:
-------------------------------------------------------
> That's to bad, at this point NS has become so
> miserable to work at and morale is so low around
> here I was actually hoping he would come in here
> and get us paid. All NS keeps doing is slash and
> burn, cut jobs, cut OT, furlough... at least CP
> will pay you $450 a day for that kind of
> treatment
>
> There goes any hope of a decent wage ever being
> made at this hillbilly run sh*thole
>
> Posted from Android

Having just retired from the Nazi-run sh*thole that is the CP, be happy that's all they're doing to you.  At CP you not only get all of the wonderful things you mentioned, you get half wit brainless little brainwashed punks telling you not only what to do but how to do it, following you around all day, harrassing you, issuing discipline even when they have no basis to do so after the investigation, cameras all over the place...it's a toxic environment and one that isn't worth any amount of money.  I'm so glad I'm outta there.  The last 3 years were the longest 3 years of my 32 year career.  EHH and all the rest of those a$$holes can lick my sweaty old conductor nuts.

MRL

U30CG Wrote:
-------------------------------------------------------
> SlipperyWhenWet Wrote:
> --------------------------------------------------
> -----
> > That's to bad, at this point NS has become so
> > miserable to work at and morale is so low
> around
> > here I was actually hoping he would come in
> here
> > and get us paid. All NS keeps doing is slash
> and
> > burn, cut jobs, cut OT, furlough... at least CP
> > will pay you $450 a day for that kind of
> > treatment
> >
> > There goes any hope of a decent wage ever being
> > made at this hillbilly run sh*thole
> >
> > Posted from Android
>
> Having just retired from the Nazi-run sh*thole
> that is the CP, be happy that's all they're doing
> to you.  At CP you not only get all of the
> wonderful things you mentioned, you get half wit
> brainless little brainwashed punks telling you not
> only what to do but how to do it, following you
> around all day, harrassing you, issuing discipline
> even when they have no basis to do so after the
> investigation, cameras all over the place...it's a
> toxic environment and one that isn't worth any
> amount of money.  I'm so glad I'm outta there. 
> The last 3 years were the longest 3 years of my 32
> year career.  EHH and all the rest of those
> a$$holes can lick my sweaty old conductor nuts.
>
> MRL

LOL....So, how is this different from any other railroad. I thought the Hillbilly railroad was the SUXt...

TAW Wrote:
-------------------------------------------------------
> highgreengraphics Wrote:
> --------------------------------------------------
> -----
> > Good. Let Mr. EHH obsess about something
> else...
>
> Another way to take over IHB?
>
> TAW

I was thinking exactly the same thing, Tom.  Actually, I think that has been the plan from the start.  
Everyone at the Gibson and Calumet City offices be on your guard! 

Rich



Edited 1 time(s). Last edit at 02/10/16 13:33 by Seventyfive.

junctiontower Wrote:
-------------------------------------------------------
> Is there actually any chance that NS employees
> would GET that higher CP wage if the two merged? 
> My guess is that would alter the earnings
> potential of the former NS pretty severely.

All depends how the "merger" is negotiated.  Did EHH implement the current agreement on CP?  My bet, is that they would consolidate under the less costly of the two agreements, and pay the losers NY Dock protection for 6 years.  That's exactly what happend to large portions of the Conrail territories, when NS and CSX split them.  Anybody from CR who went to NS took an immediate pay cut, and then received monthly NY Dock payments for the first six years.



Edited 1 time(s). Last edit at 02/11/16 05:34 by bioyans.

Don't let the door hit you in the a... on the way out.

SlipperyWhenWet Wrote:
-------------------------------------------------------
> dr1283000 Wrote:
> --------------------------------------------------
> -----
> > SlipperyWhenWet Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > That's to bad, at this point NS has become so
> > > miserable to work at and morale is so low
> > around
> > > here I was actually hoping he would come in
> > here
> > > and get us paid.
> > So your not getting paid then?
> > >
> > > There goes any hope of a decent wage ever
> being
> > > made at this hillbilly run sh*thole
> > Quit then.
> > Ken
> >  
>
> if you call only working 2 and 3 days a week then
> yes im still getting paid, but its no way to live
> a life, and your quit comment is probably the
> dumbest thing ive ever read

Bob Wilcox
Charlottesville, VA
My Flickr Shots

...and to think I wanted to work for ANY railroad just like my grandfather and uncles did. I'm glad I took another road for a career.