Ackman/Harrison struck out with CSX. So now they're trying NS. Unless they're willing to do a hostile takeover similar to what Teachers did with CSX, they will probably continue to feel the chill. I think CSX and NS are, rightly, holding out for a time where the Feds will allow them to join up with BNSF and UP (not necessarily respectively).

I do wonder, though, what the reception might be at KCS should CP whisper in their corporate ear? THAT would be a North American Railroad, at least north to south.