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The plot thickens: after last week’s to and fro between Canadian Pacific’s recurring bids for Norfolk Southern (NS), interjected by rejections from the NS board, US operator BNSF has stepped into the fray, saying it could also bid for NS, or perhaps even CSX. In an interview with Bloomberg, BNSF chief executive Matt Rose admitted a deal between CP and NS would likely act as a spur to other railroads to team up: “You do a merger and then somebody else announces it because of this issue of stabilisation of the industry and parity in various markets.” BNSF was bought by serial corporate investor Warren Buffet for $34bn in 2010.

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