January 19, 2017 / 12:40 AM / 3 years ago

Former Canadian Pacific CEO Harrison, Paul Hilal in talks for CSX stake

Jan 18 (Reuters) - Former Canadian Pacific Chief Executive Hunter Harrison is in advanced talks to team up with former Pershing Square Capital partner Paul Hilal to acquire activist stake in rival railroad CSX Corp, according to a person familiar with the matter.

Hilal, who had left William Ackman’s Pershing Square Capital Management LP last year, has raised more than $1 billion to acquire a stake in CSX, with investors locked up for five years, the person said.

CSX, Hilal, and Harrison could not be immediately reached for comment. (Reporting by Michael Flaherty in New York and Gayathree Ganesan in Bengaluru; Editing by Sandra Maler)

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