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CP Rail nominates activist investor to board

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Canadian Pacific Railway Ltd. (CP-T) filed its proxy circular on Thursday, and nominated activist investor William Ackman for election to its board of directors.

Canada's No. 2 railway is locked in a proxy battle with Ackman's Pershing Square Capital Management, which wants to replace Chief Executive Fred Green with former Canadian National Railway (CNR-T) CEO Hunter Harrison.

The company said it strongly disagreed with Ackman's demand that it replace Green.

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