Fallout from the CN/CP fight for KCS
All avoidable.
Like TCI, I fail to understand what CN was thinking.........other than trying to force the price up for CP (I assume, but don't know that was it)
I'm not one to obsess over precision railroading, or the need for a senior management obsessed by growth at all costs/efficiency damn the consequences.
As an investor, I prefer sustainable growth, and a long time horizon.......
That said, I would object if I saw a lot of effort and $$ go into a losing battle. Even more so, if winning that battle would have resulted in unsustainable debt levels.
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Reminds me of the takeover of Safeway Canada........where, in my opinion, Sobeys grossly overpaid the asset, in what I would describe as.....ummm....... a measuring contest.......
The other bidder walked away when they saw the price get too rich.
In that case, Sobeys won...........................except for losing gobs of money, taking on huge debts and the CEO who led the purchase losing his job.