He Can't Help Himself! Hunter Harrison Joining Activist to Influence One More Railroad, CSX
On Jan. 18, The Wall Street Journal indicated that Hunter Harrison is joining former Pershing Square investor Paul Hilal, who lead the CP investment for Pershing and left in 2016 to launch his own Mantle Ridge fund, in an attempt to influence CSX. The WSJ indicates that Hilal has raised $1 billion for a single investment, and investors are locked up for five years. We imagine the playbook is the same: Install Harrison by shareholder vote, and watch him lead a charge with his precision railroadin...Canadian Pacific Railway operates a transcontinental railway in Canada and the U.S. Co.'s business mix includes bulk commodities, merchandise freight and intermodal traffic, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the U.S. Northeast and Midwest regions. As of Dec 31 2016, Co. operated on a network of approximately 12,400 miles of track, of which CP owns 10,800 miles and has access to 1,600 miles under trackage rights and lease agreements. Of the total mileage operated, about 5,600 miles were located in western Canada, 2,000 miles in eastern Canada, 4,400 miles in the U.S. Midwest and 400 miles in the U.S. Northeast.
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