CP CEO Says Buffett Won’t Fight Merger in Washington

December 3, 2015

By Thomas Black of Bloomberg Business

Hunter Harrison, the chief executive officer of Canadian Pacific Railway Ltd., said he doesn’t expect that his $28 billion proposal to acquire Norfolk Southern Corp. will spur substantial opposition from Warren Buffett.NS_Logo_Tagline

BNSF Railway Co., which is owned by Buffett’s Berkshire Hathaway Inc. and is the largest North American railroad by carload volume, and Union Pacific Corp. shouldn’t be worried about the merger because those carriers operate in the western U.S. while Norfolk is in the east, Harrison said.

“I just can’t imagine Mr. Buffett going to Washington and saying ‘Help me with these Canadians coming down in here and doing all these ugly things to us,’” Harrison said Wednesday. “I just don’t see him in that role.” He made his comments at a Credit Suisse Group AG conference.Website Insert Our Name Tells Our Story copy

 “A new transcontinental merger could have the ultimate effect of restructuring the industry and BNSF will participate in the process if the proposal receives official consideration,” Matt Rose, BNSF’s executive chairman, said by e-mail. A spokesman declined to elaborate.

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