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Re: CP/NS Gets Personal
Author: Graham Buxton
Date: 12-10-2015 - 05:28

mook Wrote:
-------------------------------------------------------
> The current follies (CP courting NS) are a Wall
> Street-driven thing. And offering less after you
> got sent home the first time for not having a
> sweet enough deal doesn't go over well. Hunter H.
> and his activist investors must have something
> else up their sleeve since they don't really seem
> to be trying very hard with NS (and didn't try
> again at all when CSX sent them home).
>

Here is an interesting theory ...

Quote:
on TO
That's a question very few will ever have the answer to.
It's always been my opinion that Hunter is really after majority ownership of the IHB. CP owns 49% and NS and CSX each own the other 51% (they each own 25.5% as part of the Conrail deal) and Ackman probably have determined that after failed offers with both, NS has more valuable real estate, and the more worthy of the 2 for a hostile takeover.

I believe they see this as a win/win if it works. If they are successful and the merger is approved, they have the control they seek over the IHB. If it isn't approved, Ackman and Hunter could dump CP in the trust and with control over the NS can start selling off real estate to offset the debt load and help recover some of Pershing Square's other losses.

CP has been milked as much as it can. The short term gains are gone, all that's left is an insufficient infrastructure that has no long term sustainability. without someone investing significant amounts of money to make it better- something Ackman is not willing to do.

[www.trainorders.com]

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Subject Written By Date/Time (PST)
  CP/NS Gets Personal Pdxrailtransit 12-09-2015 - 11:48
  Re: CP/NS Gets Personal clipper841 12-09-2015 - 13:21
  Re: CP/NS Gets Personal Chad 12-09-2015 - 15:22
  Re: CP/NS Gets Personal synonymouse 12-09-2015 - 20:02
  Re: CP/NS Gets Personal mook 12-09-2015 - 22:30
  Re: CP/NS Gets Personal synonymouse 12-09-2015 - 23:44
  Re: CP/NS Gets Personal Graham Buxton 12-10-2015 - 05:28


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