Canadian Pacific Railway Ltd said it was still willing to continue talks with activist investor William Ackman on the company's strategy and dismissed media reports that the railroad operator was willing to consider Ackman's nomination for CEO.

Ackman wants the company to replace CEO Fred Green with Canadian National Railway's ex-chief Hunter Harrison.

Canadian Pacific had expressed concerns over Harrison's contract with Canadian National and his non-compete arrangements, the company's chairman John Cleghorn said in a letter to Ackman, filed with the U.S. Securities and Exchange Commission.

Cleghorn also said no Canadian Pacific board member "expressed enthusiasm for Mr. Harrison and requested a meeting with him."

"Indeed, no invitation has been extended by us to Mr. Harrison, either directly or via Pershing Square."

Ackman, whose hedge fund Pershing Square Capital has a 14.2 percent stake in Canadian Pacific, has raised questions about CP's poor operating performance and about its management, although earlier this month the fund said discussions with the Canadian railroad had been productive. (Reuters)