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Norfolk Southern Board Of Directors To Evaluate Unsolicited, LOW-PREMIUM, NON-BINDING AND HIGHLY CONDITIONAL INDICATION OF INTEREST FROM CANADIAN PACIFIC Class I Railroad Consolidation Would Face Sign

The following excerpt is from the company's SEC filing.

NORFOLK, VA., November 17, 2015 – Norfolk Southern Corporation (NYSE: NSC) (“the Company”) today confirmed that it has received an unsolicited, low-premium, non-binding, highly conditional indication of interest from Canadian Pacific (CP.TO) to acquire the Company for $46.72 in cash and a fixed exchange ratio of 0.348 Canadian Pacific shares per Norfolk Southern share, representing a premium of less than 10% based on closing prices today.

The Company’s board of directors, in consultation with its financial and legal advisors, will carefully evaluate and consider this indication of interest in the context o f Norfolk Southern’s strategic plans, and its ongoing review of opportunities to enhance stockholder value through strategic, financial and operational measures and pursue the best interests of the Company and its stockholders. Notably, any consolidation among Class I railroads in North America would face significant regulatory hurdles. Norfolk Southern’s board of directors and management team are committed to enhancing value for all stockholders. The Company's stockholders do not need to take any action at this time.

About Norfolk Southern

Norfolk Southern Corporation (NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 20,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk...


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