Pershing Square's Ackman says some railway deals pro-competitive

Thu Oct 16, 2014 12:08pm EDT
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TORONTO Oct 16 (Reuters) - The founder of hedge fund Pershing Square Capital Management said on Thursday that Canadian Pacific Railway's 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.

"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)