CP Rail CEO says unlikely to go hostile in bid for CSX
By: Reuters | Oct 21 2014 at 02:44 PM | Intermodal
The head of Canadian Pacific Railway Ltd, which ended talks to buy CSX Corp this week, said on Tuesday it was unlikely to attempt a hostile deal for the No. 3 U.S. railroad operator.
“I’ve learned never say never, but I can’t contemplate any kind of hostile activity,” said CP Rail Chief Executive Hunter Harrison on a conference call with analysts and media.
Harrison, a North American rail industry veteran, said the two sides held three or four meetings about a possible tie-up. However, CP did not end up making any offer for CSX as the two companies “saw the world a little differently,” he said.
He said CP was not currently focusing on any other deals, but added that CP would consider it if any other opportunities emerged.