Dec 4 (Reuters) - Norfolk Southern Corp (N:NSC) NSC.N :
* Board of directors unanimously rejects unsolicited indication of interest
from Canadian Pacific
* Transaction would face substantial regulatory risks and uncertainties highly
unlikely to be overcome"
* Says "Norfolk Southern board concluded that the indication of interest is
grossly inadequate"
* Expect to achieve an operating ratio below 70 in 2016 with additional
improvements over the next five years"
* Norfolk Southern believes that the proposed transaction would cause more, not
less, traffic congestion in Chicago"
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Further company coverage NSC.N