CSX (CSX) Turns Away Takeover Bid from Canadian Pacific (CP) - WSJ

Canadian Pacific Railway (NYSE: CP) has approached CSX Corp. (NYSE: CSX) about a merger of the two North American rail giants, the Wall Street Journal reported Sunday citing people familiar with the matter.

CSX has apparently rebuffed the offer, which was said to have been made over the past week. The Journal said it is unclear if Canadian Pacific will continue to pursue a deal which could come up against tough anti-trust resistance.

CSX has a market cap of $30 billion, while Canadian Pacific has a market cap of $33 billion. A deal, if consummated, would easily eclipse Berkshire Hathaway's $26 billion takeover of Burlington Northern in 2010.

You May Also Be Interested In

• Azul (AZUL) Said in Talks With Gol (GOL) Shareholder for Stock-Based Deal - Bloomberg
• Zuora (ZUO) Exploring a Potential Interest After Receiving Acquisition Interest from Potential Buyers - Reuters
• 23andMe (ME) CEO Wojcicki considering taking company private - 13D