Canadian Pacific Railway Limited confirmed Monday that exploratory talks with CSX Corp. have been terminated and no further discussions are planned. CP had proposed a combination of the two that would have promoted competition and eased congestion in North America, and especially around Chicago. "While regulatory concerns appear to be a major deterrent for many railroads considering combinations, CP believes that given the right structure between the right players, and having thoughtful considerations and remedies to address shipper concerns, regulatory approvals are achievable," the company said in a statement. Canadian Pacific shares were not yet trading, but are up 40% in the year so far, while the S&P 500 has gained 2.1%. CSX shares have gained 17.7% in the year so far.
Copyright © 2014 MarketWatch, Inc.
Continue Reading Below