Canadian National Railway Co., North America’s most efficient carrier, said it will split its stock and plans a C$1.4 billion ($1.36 billion) buyback after posting a third-quarter profit that beat analysts’ estimates.
Bombardier Inc.’s bet on winning a plane order from American Airlines, a deal stalled by antitrust opposition to a merger with US Airways Group Inc., is becoming increasingly crucial for the regional-jet pioneer.
Canadian Pacific Railway Ltd. may face pressure to sell the company after William Ackman’s Pershing Square Capital Management LP bought a 12.2 percent stake and said it expects to hold talks with management.
Canadian National Railway Co. and Canadian Pacific Railway Ltd., the country’s No. 1 and 2 carriers, are rushing to build terminals to load oil beyond the reach of pipelines in some of North America’s remotest regions.