CSX rejects merger overture from Canadian Pacific Railway
CSX Corp, a Florida-based railway group, has rejected a merger approach from Canadian Pacific Railway, the Wall Street Journal reported online.
Citing unnamed people with knowledge of the matter, the paper said it remains unclear if Calgary-based Canadian Pacific Railway will give up its merger hope following the rebuff of CSX's approach last week.
The combined CSX and Canadian Pacific Railway would have a market value of roughly USD 62bn, the report said.
Source Wall Street Journal