Pershing Square's Ackman says some railway deals pro-competitive
TORONTO (Reuters) - The founder of hedge fund Pershing Square Capital Management said on Thursday that Canadian Pacific Railway's (CP.TO: Quote) chief executive believes some consolidation in the rail industry could improve competition.
Speaking at a Toronto event, William Ackman said it was not his role to confirm or deny rumors that CP, Canada's second-largest rail carrier, had made a move to acquire U.S. rail company CSX Corp CSX.N.
"There are rail combinations that could not happen for antitrust reasons, but there are rail combinations that can be pro-competitive as opposed to anti-competitive," Ackman said, adding that he defers to CP CEO Hunter Harrison as the expert.
(Reporting by Alastair Sharp and Allison Martell, Writing by Susan Taylor; Editing by Meredith Mazzilli)
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