Calgary Alberta - Canadian Pacific Railway Limited announced today that exploratory conversations held with CSX Corporation about a possible business combination have ended.
 
No further talks are planned.
 
CP proposed an integrated coast-to-coast combination that would improve customer service, promote competition, alleviate congestion in North America, specifically the key Chicago gateway, and generate significant shareholder value.
 
Such a business combination would offer creative alternatives for shippers, greater fluidity, increased capacity, and improved efficiency industry-wide.
 
While regulatory concerns appear to be a major deterrent for many railroads considering combinations, CP believes that given the right structure between the right players, and having thoughtful considerations and remedies to address shipper concerns, regulatory approvals are achievable.
 
The North American rail industry is confronted today with the challenges of moving more freight than ever, and the prospect of moving even more as oil production, crop yields, and consumer demand grow alongside the economy.
 
CP is convinced that the significant problems that beset the industry now will only worsen over time if solutions aren't put in place immediately.
 
A pro-competition, customer-friendly, safety-focused, railway combination is one such solution that could not be ignored on its merits by regulators.
 
CP CEO E. Hunter Harrison will discuss the topic of railroad mergers and acquisitions and the need for a comprehensive North American transportation policy with the financial community, media, and any other interested parties, in a conference call beginning at:  13:00 Eastern time, Tuesday, 21 Oct 2014.
 
Conference Call Access
 
Toronto participants dial in number:  (647) 427-7450
 
Operator assisted toll free dial in number:  1-888-231-8191
 
Callers should dial in 10 minutes prior to the call.
 
Webcast Details
 
We encourage you to access the webcast in the "Invest in CP" section of CP's website at www.cpr.ca/.

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