Canadian Pacific offers to buy Norfolk Southern
Nov 17 (Reuters) - Canadian Pacific Railway Ltd <CP.N > said it has offered to buy Norfolk Southern Corp to create a transcontinental railroad.
The proposal includes a "sizable premium in cash and stock" to Norfolk shareholders, Canadian Pacific said, without specifying a deal value.
Norfolk Southern has a market value of about $26.36 billion. (Reporting by Manish Parashar in Bengaluru; Editing by Don Sebastian)
© Thomson Reuters 2016 All rights reserved.