Are you looking for a stock?

Try one of these

Related Videos

Pershing Square acquires stake in Canadian Pacific

Activist hedge fund manager Pershing Square Capital Management LP of New York has acquired a 12.2-percent stake in Canadian Pacific Railway Ltd.

Pershing said in a regulatory filing that it expects to "engage in discussions with management, the board, other stockholders of the issuer and other relevant parties concerning the business, management, operations, assets, capitalization, financial condition, governance, strategy and future plans of the issuer."

Calgary-based CP is Canada's second-largest railway.

Pershing has acquired 20.66 million of CP’s 169.36 million shares outstanding.

The move comes as CP faces challenges to turn around its operations after a rough start to 2011. CP suffered through brutal winter weather in the Rockies in the first quarter, notably avalanches that disrupted freight shipments in Western Canada. Then flooding in Saskatchewan, Manitoba and North Dakota threw the second quarter off track.

DISLIKE
 
COMMENTS
 
CTV.ca CTV Two CTV News CTV News Channel BNN - Business News Network CP24