Canadian Pacific revises offer for Norfolk Southern

Tue Dec 8, 2015 7:23am EST
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Dec 8 (Reuters) - Canadian Pacific Railway Ltd revised its offer to buy U.S. railroad operator Norfolk Southern Corp, less than a week after its previous offer of $28.4 billion was rejected.

CP said it was now offering $32.86 in cash and 0.451 of a share in a new holding company that would own both Norfolk and Canadian Pacific.

CP had previously offered $46.72 in cash and .348 of its own shares. (Reporting by Sneha Banerjee in Bengaluru; Editing by Ted Kerr)