Ackman Pressures Canadian Pacific (CP) With New Director Nomination

  Bill Ackman is continuing on his crusade to change the way Canadian Pacific Railway Ltd. (TSE:CP) does its business by offering up a new nomination for director in the Group. Ackman has recruited Steven Tobias, a former executive at Norfolk Soutern Corp., to run as a director in the company. The hedge fund manager has been striving for some time to see the railway giant change its board membership. Pershing Square Capital Management, the investment firm at which Ackman is CEO, acquired about 14% in the company demonstrating the funds belief that the company is undervalued. Mr. Tobias spent…