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Canadian Pacific seeks to buy CN North America eastern lines. (Brief Article)
Railway Age
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August 1, 1994
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COPYRIGHT 1994 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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With merger talks going nowhere, Canadian Pacific Limited is now ready to purchase the eastern rail operations of CN North America in order to put in place a single railway system east of Thunder Bay, Ont., and Chicago. The two systems have been discussing a merger since February, in an attempt to resolve problems (mainly associated with over-capacity) that have resulted in combined losses for the two railways of about $2 billion over the last five years. Talks broke down over differences in the way the companies valued their assets and operations.
Ian Barry Scott, ...
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