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CANADIAN PACIFIC KANSAS CITY LTD/CN 8-K Report (Dec 9, 2014)

Filing Date
Filed December 9, 2014
Period End
December 9, 2014
Security
CP
In the record · 2016–202610-K2010-Q328-K361

CP filed 20 annual reports (10-K), 32 quarterly reports (10-Q) and 361 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Feb ’17Feb ’17
  2. Material agreement8-K · Oct ’19Oct ’19
  3. Deal closed8-K · Dec ’21Dec ’21
  4. Material agreement8-K · Aug ’25Aug ’25

01—Abstract

Summary

Summary of the 6-K filed December 9, 2014. Cited figures are marked; the original filing is the authoritative source.

Canadian Pacific Railway Limited (CP) announced on December 8, 2014, that it entered into a private agreement to purchase 625,000 of its own common shares for a total consideration of C$117,762,500a.

This transaction is a significant event as it represents a substantial buyback of the company's stock, which will be cancelled and counted towards its ongoing Normal Course Issuer Bid (NCIB). This share repurchase signals management's confidence in the company's valuation and its commitment to returning capital to shareholders. The purchase price implies a per-share cost of approximately C$188.42b.

Investors should view this as a positive development, suggesting that CP believes its shares are undervalued in the market. The cancellation of these shares will also reduce the total number of outstanding shares, potentially increasing earnings per share (EPS) for remaining shareholders.

02—Key points

Key Highlights

  1. CP entered into a private agreement to purchase 625,000 common shares on December 8, 2014.
  2. The aggregate purchase price for these shares is C$117,762,500.
  3. The purchased shares will be cancelled.
  4. This transaction is part of CP's current Normal Course Issuer Bid (NCIB).
  5. The filing is made under a Form 6-K, as CP is a foreign private issuer.
  6. The company obtained an exemption order from the Ontario Securities Commission for this purchase.
  7. The implied purchase price per share is approximately C$188.42.

03—Questions

Frequently Asked Questions

  1. What is the significance of this private share purchase for CP investors?

    This share repurchase indicates management's belief that CP's stock is undervalued and demonstrates a commitment to returning capital to shareholders. The cancellation of shares can also lead to an increase in earnings per share (EPS) for remaining shareholders.

  2. How does this purchase relate to CP's Normal Course Issuer Bid (NCIB)?

    The 625,000 common shares purchased under this private agreement will be counted towards the total number of shares CP is authorized to buy back under its existing Normal Course Issuer Bid. This means the company is actively executing its share repurchase program.

  3. What is the implied price per share for this transaction?

    The aggregate purchase price of C$117,762,500 for 625,000 common shares implies a price of approximately C$188.42 per share.

  4. Why is this filing being made on a Form 6-K?

    Canadian Pacific Railway Limited is a foreign private issuer, and Form 6-K is used to report certain information that the company makes public in its home country or is required to disclose under foreign law, including material events like this share repurchase.

04—Continue

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