Friday, August 21, 2015

Canadian Pacific Railway Limited - CP.t

Canadian Pacific Railway Limited - CP.t was founded in 1881 to physically unite Canada and Canadians from coast to coast.

Canadian Pacific spun out its five subsidiaries into separate companies in late 2001. CPR's 14,000-mile network extends from the Port of Vancouver to The Port of Montreal, and to the U.S. industrial centers of Chicago, Newark, Philadelphia, Washington, New York City and Buffalo.

On May 29, 2015 the company released NEWS

Canadian Pacific Railway Limited (TSX:CP) (NYSE:CP) announced today that it intends to purchase for cancellation up to 1,425,000 of its common shares pursuant to private agreements to be entered into between CP and arm's‐length third‐party sellers. .

Purchases will be made in accordance with two issuer bid exemption orders issued by the Ontario Securities Commission ("OSC") each dated May 29, 2015 (the "Orders"), and pursuant to the Orders, may be made in several transactions prior to March 17, 2016. The price CP will pay for its common shares purchased by way of private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase.

Purchases made by CP will be counted towards CP's normal course issuer bid announced on March 16, 2015 for up to 9,140,000 CP common shares (the "Bid") and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under the Bid, being 3,046,667 common shares.