Can Ackman Really Impact Canadian Pacific Much More? (CP)
Pershing Square Capital Management, L.P. has announced that its Town Hall Meeting intended to give Canadian Pacific Railway Limited (NYSE: CP) shareholders the opportunity to meet Pershing Square’s slate of nominees. The activist investor’s slate will stand for election at…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Pershing Square Capital Management, L.P. has announced that its Town Hall Meeting intended to give Canadian Pacific Railway Limited (NYSE: CP) shareholders the opportunity to meet Pershing Square’s slate of nominees. The activist investor’s slate will stand for election at the May 17, 2012 Annual General Meeting in Calgary for Canadian Pacific.
MAY??? This is going to be a long-term fight by the sound of it (and the history of it).
Each of the five nominees will be at the event, including former CEO of Canadian National Railroad, Hunter Harrison. Bill Ackman of Pershing Square will be available for discussion and analysis of the need for board and management change at Canadian Pacific along with Paul Hilal, a partner at Pershing Square, and Hunter Harrison.
What is interesting is that Canadian Pacific has rallied from under $50 in September and October to above $70 now. The bump up has been enough that many investors riding the Pershing coattails might consider jumping off rather than waiting to see if an activist investors can make a railroad run smoother.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
