BUZZ-Norfolk Southern Corp: Canadian Pacific offers to buy

Tue Nov 17, 2015 5:46pm EST
 
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** Railroad operator's shares up 5.8 pct at $92 in trading after the bell

** Canadian Pacific Railway Ltd said it has offered to buy company to create a transcontinental railroad

** Canadian Pacific did not specify a deal value

** Proposal includes a "sizable premium in cash and stock" to Norfolk shareholders, Canadian Pacific said

** Up to Tuesday's close, Norfolk stock had fallen 20.7 pct this year