'It's fool's gold': CP chief executive blasts rival CN's debt-heavy bid for U.S. railway as 'fantasy

Canadian National Railway Co. on Thursday accused Canadian Pacific Railway Co. of trying to “distract investors” after the chief executive of CP called CN’s competing offer for Kansas City Southern “fool’s gold.” Canada’s biggest railways have been sparring over KCS, a U.S. rail operator, since Tuesday, when CN trumped a previous US$25.2-billion bid from CP with a US$33.7-billion offer of its own. In a letter to the KCS...