Feb 9 (Reuters) - Canadian Pacific Railway Ltd is abandoning its threat of a proxy battle to replace directors at takeover target Norfolk Southern Corp, the Wall Street Journal reported, citing a person familiar with the matter.
Norfolk Southern has repeatedly rejected Canadian Pacific's takeover offers, hoping to persuade shareholders that it is better off as a standalone company. (on.wsj.com/1LeueEX)
Norfolk Southern and Canadian Pacific officials were not immediately available for comment. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Anil D’Silva)