October 16, 2014 / 4:13 PM / 4 years ago

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

William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks to the audience about Herbalife company in New York, July 22, 2014. REUTERS/Eduardo Munoz

TORONTO (Reuters) - The founder of hedge fund Pershing Square Capital Management said on Thursday that Canadian Pacific Railway’s (CP.TO) 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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