CP Rail approached CSX about deal while pursuing NS
A CP Rail engine is seen in this file photo. (Chuck Stoody / THE CANADIAN PRESS)
Josh Funk, The Associated Press
Published Wednesday, March 2, 2016 3:44PM EST
OMAHA, Neb. -- Canadian Pacific reportedly approached CSX railroad about a possible merger earlier this year while it continued to pursue its proposed takeover of rival Norfolk Southern.
The latest overture to the Jacksonville, Florida, railroad was first reported by The Wall Street Journal. Canadian Pacific first contacted CSX in the fall of 2014 about a potential deal and was rejected.
Canadian Pacific CEO Hunter Harrison said his railroad remains committed to its roughly $30 billion bid for Norfolk Southern, which is based in Norfolk, Virginia.
But Harrison says he sees significant potential benefits in a deal with either Norfolk Southern or CSX, which both operate in the eastern United States. Canadian Pacific spokesman Martin Cej said that statement is accurate.
Officials with CSX and Norfolk Southern railroads both declined to comment.