Canadian Pacific seeks to buy CN North America eastern lines. (Brief Article)

Railway Age | August 1, 1994 | Copyright

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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