CP Rail getting positive response

December 3, 2015

Ross Marowits, The Canadian Press, CTV News

MONTREAL — Canadian Pacific Railway is still awaiting a response from Norfolk Southern to its US$28-billion merger proposal, but the Canadian company’s CEO says it is getting positive feedback from shareholders and shippers.Website Insert State Supported Passenger Trains copy

“Most of the shareholders I’ve talked to think its a powerful combo,” Hunter Harrison told the Credit Suisse Industrials conference webcast from Florida.

Harrison also described the feedback from shippers as “encouraging.”

The Calgary-based railway has been expected to face opposition from shippers, unions and other railways.

Aside from complaints by railway rivals, Harrison said he’s “very pleased with where we are.”

The veteran railroader who headed Canadian National Railway (TSX:CNR) before being lured out of retirement by CP Rail (TSX:CP) said he can’t see other railways crying foul given the accommodations it has proposed to give them access to its network if customers are unhappy with the service provided.

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