April 5, 2012 / 1:17 PM / 6 years ago

Pershing files CP proxy circular

TORONTO, April 5 (Reuters) - Activist shareholder William Ackman’s Pershing Square Capital Management filed its proxy circular for Canadian Pacific Railway on Thursday, arguing once more that only a new chief executive can turn around Canada’s No. 2 railroad.

In an accompanying letter to shareholders, Ackman urged shareholders to vote for Pershing’s seven board nominees, and against a resolution on executive compensation.

Pershing, CP’s largest shareholder, wants Canadian Pacific to replace Chief Executive Fred Green with former Canadian National Railway CEO Hunter Harrison.

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