09:21 AM EDT, 08/26/2025 (MT Newswires) -- Canadian Pacific Kansas City ( CP ) said Tuesday that it is not interested in taking part in further rail industry consolidation, saying it's not necessary as the industry is "already greatly consolidated."

The company issued a statement after CSX (CSX) was urged by activist investor Ancora to pursue a business combination following Union Pacific ( UNP ) and Norfolk Southern's ( NSC ) merger agreement.

Canadian Pacific said any rail merger "poses unique and unprecedented risks to customers, rail employees and the broader supply chain."

The company said it prefers to focus on delivering more of the benefits of its three-nation network, with many of the benefits of transcontinental mergers achieved through "new and expanded industry partnerships, customer service innovations, and additional cooperation among railways."