Norfolk Southern Rises as Ackman Sees CP Buying CSX Rival
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Norfolk Southern Corp. rose for a third straight day after activist investor Bill Ackman said Canadian Pacific Railway Ltd. may pursue a rival to one-time target CSX Corp.
While Ackman didn’t name Norfolk Southern in remarks yesterday at the Invest for Kids conference in Chicago, he described the possible takeover target in relation to CSX. Norfolk, Virginia-based Norfolk Southern and CSX go head-to-head in the U.S. east of the Mississippi River.